Ola Electric’s market value surpasses Rs 51,000 crore as its shares soar 71% in only three days.

In just three days, Ola Electric Mobility's shares shot up 71% to Rs 130 from the Rs 76 listing price. The market value was higher than Rs 51,000 crore. A post-listing meeting of the board is scheduled for August 14, when the Q1 results for FY 2025 will be revealed. Regarding relying solely on GMP for investing, caution is suggested.

This increase occurs on August 14, the day before Ola Electric Mobility is expected to release its Q1 results. According to a company filing, the Bhavish Aggarwal-led business will evaluate and approve the unaudited standalone and consolidated financial statements for the quarter ended June 30, 2024, at its first board meeting since listing.


Ola Electric, meantime, is getting ready to launch its first electric motorcycle on July 4. The initiative has been a long-term effort for the corporation, despite official specifics being kept under wraps. Ola unveiled concept cars including the Diamondhead, Adventure, Roadster, and Cruiser in August 2023.

Local mutual funds earned forty percent of the anchor book’s entire allocation, with foreign investment firms receiving roughly fifty-four percent. SBI MF, HDFC MF, and Nippon India MF are the domestic mutual funds that received comparatively larger allotments in the anchor component when compared to other funds.

Shares of the business were trading at 114 at 9:42 am, up 5% from the previous NSE close.

 

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The domestic market witnessed a broad selloff as mid and small-cap segments also suffered losses.

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