Shares of Ola Electric Mobility Limited rose by more than 6% on Thursday, December 26, reaching an intraday high of ₹99.90.
This increase in share price is linked to the company’s recent announcement to expand its store network to 4,000 locations.
Ola has added over 3,200 new stores, many of which are co-located with service centers. This expansion goes beyond metropolitan areas and now covers tier-1 and tier-2 cities, making its presence more widespread.
New Features and Limited Edition Launch
Ola Electric has also started priority registrations for the beta version of its MoveOS 5 software. This update introduces exciting features such as group navigation, live location sharing,
and a road trip mode powered by Ola Maps. Additionally, the company has launched a limited-edition Ola S1 Pro Gold, which includes elements plated with genuine 24-carat gold.
Analysts’ Views and Stock Performance
Brokerage firm Citi had previously expressed optimism about Ola Electric’s future. In a November 27 note, Citi highlighted that the company’s upcoming motorcycles
and electric three-wheelers would likely boost its sales volumes. Despite earlier concerns about service sentiment, Citi expects improvements and has given a ‘buy’ rating with a price target of ₹90. Notably, the stock is now trading above this level.
Among seven analysts tracking the company, five recommend a ‘buy’, while two have a ‘sell’ rating.
Ola Electric’s shares have climbed 34% in the past month and are performing well above their IPO price of ₹76, which was launched earlier this year.
Brokerage Opinion and Stock Performance
Brokerage firm Citi issued a ‘buy’ rating for Ola Electric on November 27, predicting that the company’s upcoming motorcycles and electric three-wheelers would increase sales.
Although service sentiment had been negative, Citi expects it to improve. The brokerage set a price target of ₹90, which the stock has now surpassed.
Of the seven analysts covering Ola Electric, five have a ‘buy’ rating, and two have a ‘sell’ rating. The stock has risen 34% in the last month, and since its IPO earlier this year at ₹76, shares are currently at early highs.
