Ola Electric shares climb 5% in 2 sessions; will the rally sustain?

Ola Electric Mobility Ltd shares extended their gains for the second straight session on Monday, rising 3.21 per cent to close at Rs 60.79. With this, the stock has advanced 4.99 per cent over two trading days, while its one-month gain stands at 47.41 per cent. It had recently corrected after the company disclosed that its promoter pledged 10.71 crore shares, representing 2.43 per cent of its equity capital.

Before this, SVF II Ostrich (DE) LLC -- a SoftBank entity -- offloaded a portion of its holding in the company. In a disclosure, the shareholder said it had disposed of 94,943,459 equity shares of Ola Electric between July 15, 2025, and September 2, 2025.

Separately, the Bhavish Aggarwal-led EV firm has appointed Abhishek Jain as company secretary with effect from September 12, 2025.

From a technical standpoint, a few analysts expect Ola Electric shares to trade in the Rs 53–65 range in the near term, with support at Rs 55, resistance at Rs 63, and an upside target of Rs 65. A stop loss is suggested at Rs 57.

Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, noted that Ola Electric shares can hit an upside target of Rs 65 in the near term, while advising investors to keep a stop loss at Rs 57.

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said support is placed at Rs 55 and resistance at Rs 63. A breakout above Rs 63 may lead to Rs 65, with the short-term trading range expected between Rs 53 and Rs 65.

Founded in 2017, Ola Electric manufactures electric two-wheelers and 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 company.