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News Topical, Digital Desk : Upper Circuit Stock: Shares of Bengaluru-based OLA Electric, India's leading electric vehicle (EV) company, saw a sharp rise on Tuesday. The stock closed at a 5% upper circuit on the BSE, reaching ₹56.66.
During this period, only buyers were seen at the counter. By 12:49 pm, approximately 18.36 million shares were traded, and buy orders for 8.12 lakh shares were pending on the NSE and BSE.
Stock volatility:
The company's stock has declined 24% from its September peak of ₹71.24. Prior to this, the stock price had surged by a massive 79% in just 15 trading days between August 12th and September 4th. In the past 52 weeks, the stock's lowest level was ₹39.58, while the highest was ₹131 in August 2024. OLA Electric received a strong response . Recently, it launched a festive campaign called 'Muhurat Mahotsav', in which prices of its popular S1 scooter and Roadster X motorcycle were started at ₹49,999. Under this offer, vehicles can be purchased at a reduced price for a limited time every day for nine days, starting September 23rd. The company said that on the very first day, all the units on offer were sold out in just five minutes, making it clear that there is tremendous enthusiasm in the market for this campaign.
Business Outlook OLA Electric, in its June quarter (Q1FY26) financial results released on July 14, has informed about the target of selling 3,25,000 to 3,75,000 vehicles and earning ₹4,200 crore to ₹4,700 crore for the year 2026. The Production Linked Incentive (PLI) scheme is expected to boost the company's gross profit margin between 35 to 40 percent from the next quarter. The EBITDA of the auto business is also expected to be positive from the second quarter.
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