Ola Electric shares pare gains after early surge; up 52% in a month; what lies ahead?
Ola Electric: The pure-play EV maker recently received certification for compliance with the eligibility assessment requirements under the Production Linked Incentive (PLI) scheme for its Gen 3 scooter portfolio.
- Sep 2, 2025,
- Updated Sep 2, 2025 5:08 PM IST
Shares of Ola Electric Mobility Ltd climbed 4.89 per cent on Tuesday to an intraday high of Rs 65.44, but later gave up the gains to end 0.72 per cent lower at Rs 62.03. Despite the pullback, the counter has advanced 51.85 per cent over the past month.
The pure-play EV maker recently received certification for compliance with the eligibility assessment requirements under the Production Linked Incentive (PLI) scheme for its Gen 3 scooter portfolio. The company also unveiled its first indigenously manufactured 4680 Bharat cell battery and a rare earth metal-free motor at its annual 'Sankalp' event held at the Gigafactory in Tamil Nadu.
Some analysts remained optimistic on the stock as long as it stays above the Rs 55–58 zone, while one cautioned that Ola Electric is overbought and a drop below Rs 54.6 could spark further downside.
Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, said the stock still looked strong on charts despite closing lower today. "It can reach an upside target of Rs 70 in the near term. Keep a stop loss at Rs 58 for this trade," he added.
Drumil Vithlani, Technical Research Analyst at Bonanza, remarked, "Ola Electric has posted a strong breakout after a long consolidation, closing above the Rs 52–55 resistance zone with high volumes. The pattern indicates dips may attract buying. As long as the stock holds above Rs 55, short-term targets are Rs 68–72, with scope to extend towards Rs 78 if momentum continues. A strict stop loss below Rs 55 on a closing basis is recommended."
Sebi-registered analyst AR Ramachandran observed, "Ola Electric stock is bullish but overbought on daily charts, with strong resistance at Rs 65. A daily close below Rs 54.6 could drag it down to Rs 46 in the near term."
Founded in 2017, Ola Electric manufactures electric two-wheelers and key components such as battery packs, motors and frames at its Ola Futurefactory. As of June 2025, promoters held a 36.78 per cent stake in the Bengaluru-based company.
Shares of Ola Electric Mobility Ltd climbed 4.89 per cent on Tuesday to an intraday high of Rs 65.44, but later gave up the gains to end 0.72 per cent lower at Rs 62.03. Despite the pullback, the counter has advanced 51.85 per cent over the past month.
The pure-play EV maker recently received certification for compliance with the eligibility assessment requirements under the Production Linked Incentive (PLI) scheme for its Gen 3 scooter portfolio. The company also unveiled its first indigenously manufactured 4680 Bharat cell battery and a rare earth metal-free motor at its annual 'Sankalp' event held at the Gigafactory in Tamil Nadu.
Some analysts remained optimistic on the stock as long as it stays above the Rs 55–58 zone, while one cautioned that Ola Electric is overbought and a drop below Rs 54.6 could spark further downside.
Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, said the stock still looked strong on charts despite closing lower today. "It can reach an upside target of Rs 70 in the near term. Keep a stop loss at Rs 58 for this trade," he added.
Drumil Vithlani, Technical Research Analyst at Bonanza, remarked, "Ola Electric has posted a strong breakout after a long consolidation, closing above the Rs 52–55 resistance zone with high volumes. The pattern indicates dips may attract buying. As long as the stock holds above Rs 55, short-term targets are Rs 68–72, with scope to extend towards Rs 78 if momentum continues. A strict stop loss below Rs 55 on a closing basis is recommended."
Sebi-registered analyst AR Ramachandran observed, "Ola Electric stock is bullish but overbought on daily charts, with strong resistance at Rs 65. A daily close below Rs 54.6 could drag it down to Rs 46 in the near term."
Founded in 2017, Ola Electric manufactures electric two-wheelers and key components such as battery packs, motors and frames at its Ola Futurefactory. As of June 2025, promoters held a 36.78 per cent stake in the Bengaluru-based company.