Ola Electric shares rally: Negative sentiments are being seen in the stock markets. Despite this, shares of Bhavish Aggarwal-led Ola Electric Mobility are moving upwards on Monday. The company's stock rose 19.99 per cent to hit the upper circuit of Rs 109.41 on the BSE. Shares of Ola Electric Mobility have been trading upwards since their listing on Friday, August 9, 2024, and have climbed 43.97 per cent so far. Earlier, after a flat start on the BSE on Friday, the shares rose 20 per cent and hit the upper circuit of Rs 91.18 per share. Markets are focusing on the news that Ola Electric Bike will be launched in India on August 15.

When will Ola Electric's first quarter results come

Ola Electric Mobility on Friday informed the exchanges through a regulatory filing that the meeting of the Board of Directors of the company will be held on Wednesday, August 14, 2024, to consider and approve the standalone and consolidated financial results for the quarter ended June 30, 2024.

Ola Electric, a pure electric vehicle manufacturer in India, has achieved a market share of around 35 per cent in India's electric two-wheeler market in FY 2024. The company is engaged in building vertically integrated technology and manufacturing capabilities for electric vehicles and electric vehicle components including cells.

As of August 12, 2024, Ola Electric has a market capitalization of Rs 46,278.43 crore on BSE.

OLA Electric Share Price

Ola Electric shares were listed on BSE on Friday at ₹ 75.99. This is 0.01% less than the IPO price. On the other hand, the shares were listed on NSE at the IPO price of ₹ 76. After that, the stock improved rapidly and it rose 19.97% to ₹ 91.18 on BSE. The share price on NSE reached ₹ 91.20 on Friday last week.

OLA Electric IPO

On the last day of bidding on Tuesday, Ola Electric Mobility's ₹6,145 crore initial public offer received a whopping 4.27 times subscription. Subscriptions for the issue were accepted from August 2 to August 6. The price band for the initial share sale was ₹72-76 per share.