Ola Electric Shares Rally Over 6% As Markets Open Strong On Global Cues

Shares of Ola Electric Mobility surged over 6% in early trade on Wednesday, rebounding after a sharp fall in the previous trading session, as broader market sentiment improved on positive global cues. The stock gained momentum alongside benchmark indices that opened significantly higher amid easing concerns over geopolitical tensions.

Ola Electric shares rose as much as 6.25% intraday to ₹40.66 apiece, before trimming some gains later in the morning session. By around 10:10 a.m., the stock was still trading nearly 4.5% higher, reflecting sustained buying interest despite recent volatility in the counter.

The broader equity markets also witnessed strong upward movement, with the Nifty 50 rising about 1.7% to 24,280 levels and the Sensex jumping nearly 1,422 points, or around 1.9%, to 78,270. Market sentiment was supported by optimism over possible diplomatic developments in the Middle East, which helped ease investor concerns and lift risk appetite.

Also Read: SEBI Streamlines Markets: Net Settlement for FPIs and Easier Rules for REITs, InvITs

The latest rebound in Ola Electric shares comes after a period of heightened volatility. The stock had fallen more than 7% in the previous session following a strong multi-day rally, which included gains of over 20% in one session and 12.6% in another earlier in the week. Analysts attributed the recent correction partly to profit booking after the sharp upswing.

Earlier momentum in the stock was driven by positive developments around the company’s in-house Lithium Iron Phosphate (LFP) battery technology. Ola Electric recently announced progress on its 46100-format LFP cell, which is intended to improve cost efficiency and scalability across its electric mobility and energy storage offerings. The stock has also been under increased regulatory monitoring, with the NSE placing it under the Additional Surveillance Measure framework and revising its price band to curb excessive volatility.

Also Read: Asian Equities Gain As Iran Deal Hopes Push Oil Prices Lower