OLA ELECTRIC MOBILITY SHARES JUMP NEARLY 10%

Shares of Ola Electric Mobility Ltd rose nearly 10%, extending their gains for the third consecutive day, with analysts describing the recent momentum as a potential turnaround story. Analyst said the stock’s nearly 80% rally from its March low of ₹22.25 reflects expectations of a turnaround rather than an immediate recovery in earnings. The latest gains come amid a series of developments at Ola Electric, including the launch of its S1Z electric scooter and the sanctioning of ₹95.8 crore in incentives under the government’s Production Linked Incentive scheme. According to Darekar, other key triggers for the stock include the planned expansion of Ola Electric’s Gigafactory capacity from 2.5 GWh towards 6 GWh, potential merchant cell sales and a ₹1,500-crore fundraise aimed at strengthening the company’s financial position. However, profitability remains a key factor to watch. Ola Electric reported an adjusted EBITDA loss of ₹195 crore, with a return to breakeven dependent on sustained growth in volumes. According to BSE Analytics data, shares of Ola Electric have gained around 77% over the past six months, highlighting the sharp recovery in the stock from its recent lows.