Ola Electric shares rise 71% from record low — What's behind the surge and what's next?
The surge follows positive developments in the company's battery technology. The pure-play electric vehicle (EV) firm recently announced the readiness of its in-house developed Lithium Iron Phosphate (LFP) cell, which is currently awaiting regulatory approvals.
- Apr 10, 2026,
- Updated Apr 10, 2026 9:01 AM IST
Shares of Ola Electric Mobility Ltd extended their strong upmove for the second straight session on Thursday. The stock climbed 20 per cent to close at Rs 36.34. At this level, it has zoomed 71.33 per cent from its record low of Rs 21.21, a level seen last month on March 2.
The surge follows positive developments in the company's battery technology. The pure-play electric vehicle (EV) firm recently announced the readiness of its in-house developed Lithium Iron Phosphate (LFP) cell, which is currently awaiting regulatory approvals.
"Developed as part of Ola's vertically integrated battery innovation efforts, the new 46100 format LFP cell is bigger than the current NMC 4680 Bharat Cell and represents a step change in scale, cost efficiency, and applicability across both mobility and energy storage solutions, and will begin entering Ola's products starting next quarter," the company said.
Earlier, Ola Electric highlighted an improvement in business momentum, noting that daily orders crossed 1,000 units in the last week of March 2026. Registrations rose to 10,117 units in March, as per VAHAN data, compared with 3,973 units in February, marking over 150 per cent month-on-month growth and indicating a sharp pickup in demand. The company also said its market share witnessed a V-shaped recovery on a monthly basis.
Kranthi Bathini, Equity Strategist at WealthMills Securities, said, "Ola Electric has recently resumed its uptrend after a prolonged downtrend. The announcement of an India-made lithium-ion battery appears quite positive for the company from a long-term perspective. EV adoption in the two-wheeler segment could also accelerate amid rising global crude oil prices. That said, the stock is suitable only for investors with a high risk appetite."
He added that the pace of EV adoption in India will be the most crucial factor for Ola Electric's performance going ahead.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "Ola Electric has seen a spurt in price of 20 per cent, backed by robust volumes, indicating strong reversal signals. Though the counter is still hovering below the 200 DSMA placed around Rs 41-subzone. Higher caution is advisable in the counter with trailing stop losses near the potential support zone of Rs 33-30 in the short period."
According to AR Ramachandran, a Sebi-registered research analyst at Tips2trades, "The stock is bullish and also overbought on daily charts with next resistance at Rs 40.55. Investors should book profits at current levels as a daily close below the support of Rs 31.72 cam trigger a fall towards Rs 25 in the near term."
Shares of Ola Electric Mobility Ltd extended their strong upmove for the second straight session on Thursday. The stock climbed 20 per cent to close at Rs 36.34. At this level, it has zoomed 71.33 per cent from its record low of Rs 21.21, a level seen last month on March 2.
The surge follows positive developments in the company's battery technology. The pure-play electric vehicle (EV) firm recently announced the readiness of its in-house developed Lithium Iron Phosphate (LFP) cell, which is currently awaiting regulatory approvals.
"Developed as part of Ola's vertically integrated battery innovation efforts, the new 46100 format LFP cell is bigger than the current NMC 4680 Bharat Cell and represents a step change in scale, cost efficiency, and applicability across both mobility and energy storage solutions, and will begin entering Ola's products starting next quarter," the company said.
Earlier, Ola Electric highlighted an improvement in business momentum, noting that daily orders crossed 1,000 units in the last week of March 2026. Registrations rose to 10,117 units in March, as per VAHAN data, compared with 3,973 units in February, marking over 150 per cent month-on-month growth and indicating a sharp pickup in demand. The company also said its market share witnessed a V-shaped recovery on a monthly basis.
Kranthi Bathini, Equity Strategist at WealthMills Securities, said, "Ola Electric has recently resumed its uptrend after a prolonged downtrend. The announcement of an India-made lithium-ion battery appears quite positive for the company from a long-term perspective. EV adoption in the two-wheeler segment could also accelerate amid rising global crude oil prices. That said, the stock is suitable only for investors with a high risk appetite."
He added that the pace of EV adoption in India will be the most crucial factor for Ola Electric's performance going ahead.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "Ola Electric has seen a spurt in price of 20 per cent, backed by robust volumes, indicating strong reversal signals. Though the counter is still hovering below the 200 DSMA placed around Rs 41-subzone. Higher caution is advisable in the counter with trailing stop losses near the potential support zone of Rs 33-30 in the short period."
According to AR Ramachandran, a Sebi-registered research analyst at Tips2trades, "The stock is bullish and also overbought on daily charts with next resistance at Rs 40.55. Investors should book profits at current levels as a daily close below the support of Rs 31.72 cam trigger a fall towards Rs 25 in the near term."