Ola Electric shares surged nearly 20% today

Ola Electric shares surged nearly 20% today, closing around ₹35.8, driven by strong investor participation in its ongoing ₹1,000 crore rights issue. Despite recent analyst downgrades, the rally was fueled by heavy trading volumes, SoftBank trimming its stake, and optimism ahead of Q2 FY27 results. 📈 Key Highlights from Today Share Price Movement: Hit ₹35.91 intraday, closed at ₹34.95 (+16.8%). Biggest daily gain since April 2026. Rights Issue: Size: ₹1,000 crore. Price: ₹27 per share (₹16.20 upfront). Timeline: Oct 22 – Oct 30, 2026. Ratio: 2 rights shares for every 25 held. Investor Moves: SoftBank affiliate SVF II Ostrich cut stake from 12.9% → 11.7%. Motilal Oswal & Calliope Capital Advisors subscribed heavily. Founder Bhavish Aggarwal pledged 4.32% stake to participate.