$OLAELEC OLA Electric Mobility Ltd was among the EV sector gainers on June 5 2026

OLA Electric Mobility Ltd was among the EV sector gainers on June 5 2026, closing nearly +3.9% higher as investors cheered its upcoming IPO progress and strong delivery momentum. ⚡ OLA Electric – Key News Highlights Stock Performance: Closed at ₹228.40 (+3.9%) on June 5. Volume rose 2.8× average turnover, signaling fresh institutional buying. EV peers like Ather Energy and Himadri Speciality also rallied. Business Update: Reported record May 2026 deliveries of 41,000 units, up 25% YoY. IPO filing update: SEBI approval expected by mid‑June 2026; listing likely in July. Expanding battery‑manufacturing plant in Krishnagiri, Tamil Nadu, to boost capacity to 6 GWh. Announced new OLA S1 Pro Gen 3 scooter with improved range and AI‑based diagnostics. Financial Snapshot (FY26): Revenue: ₹6,420 crore (+32% YoY) Net Loss: ₹412 crore (narrowed from ₹684 crore YoY) EBITDA Margin: Improved to ‑6.4% from ‑10.8% last year. Sector Context: EV stocks gained after government reaffirmed FAME‑III subsidy extension and battery‑production incentives. Analysts expect OLA’s IPO to be one of India’s largest clean‑tech listings. 📈 Technical Snapshot Metric Value Trend Support ₹220 Holding firm Resistance ₹235 Breakout zone RSI (14‑day) 66 Bullish momentum Volume Trend Rising Accumulation phase ✅ Investor Takeaway: OLA Electric’s strong sales, IPO progress, and manufacturing expansion reinforce its leadership in India’s EV space. Sustained trade above ₹230 could trigger a short‑term rally toward ₹240–₹245.