OLA Electric, a company that was recently listed in the stock market, has done wonders. In just 5 days, this stock has given a return of up to 75 percent. Since its listing in the market, this stock has been running at a stormy pace, whereas on August 9, the listing of its shares was flat, which means that investors did not get listing gain. But after being listed, the shares of OLA Electric hit an upper circuit of 20 percent on the same day.
After a 20 percent rise on the first day, Ola Electric’s shares are showing a rise every day. The situation is such that Ola Electric’s shares have jumped 75 percent in the last five trading days. That is, if someone had invested Rs 1 lakh in this stock after its listing, his total investment would have become Rs 1,75000.
On Friday, Ola Electric shares closed at Rs 133 with an upper circuit of 20 percent. At the same time, the price of this share on listing was only Rs 76, which is now 75 percent more than its listing price. The high level of Ola Electric shares is Rs 133. The market cap of the company is Rs 48,801 crore.
According to reports, global brokerage firm HSBC has given a ‘buy’ rating on this stock and has set a target price of Rs 140 per share. Ola Electric is a leading electric scooter (EV) manufacturer in India, which provides and manufactures technology services for EVs and battery cells.
On August 15, Ola Electric launched its first bike in the electric motorcycle segment. Ola launched the ‘Roadster’, ‘Roadster X’ and ‘Roadster Pro’, and further announced to integrate its units into its vehicles from Q1FY26.
Talking about the financial condition of the company, it is not good. The company’s Q1FY25 loss increased to Rs 346 crore on a year-on-year basis, while the loss in Q1FY24 was Rs 268 crore. However, on a quarter-on-quarter basis, the company’s loss has come down to Rs 418 crore.
(Note- Before investing in any stock, please take the help of a financial advisor.)
Source (PTI) (NDTV) (HINDUSTANTIMES)