Ola Electric shares jump 6%; what’s next for this EV stock?

Shares of Ola Electric Mobility Ltd jumped 6.15 per cent in Thursday’s trade to hit a high of Rs 43. However, the stock pared most of its gains as the session went on and was last trading 2.30 per cent higher at Rs 41.44. At this level, it has declined 51.94 per cent so far in 2025.

The scrip witnessed heavy trading volume along with the price action on BSE as around 1.23 crore shares changed hands at the time of writing this story, higher than the two-week average volume of 45.68 lakh shares. Turnover on the counter came at Rs 51.48 crore, commanding a market capitalisation (m-cap) of Rs 18,287.30 crore.

The Bhavish Aggarwal-led company is scheduled to hold its Annual General Meeting (AGM) for the financial year 2024-25 (FY25) on August 22.

From a technical perspective, the stock has support in the Rs 41–40 zone, while resistance is seen in the Rs 44–46 range.

Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, observed that the stock doesn't appear strong on charts and advised investors to consider exiting on any upmove. He added that Ola Electric has support around Rs 41 and faces resistance near Rs 46.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, “Ola Electric has begun showing momentum after a period of strong consolidation around the Rs 40 mark. A sustained move above Rs 44 could drive further upside towards the Rs 48-50 range. On the downside, Rs 40 is expected to act as a support level in the near term.”

Founded in 2017, Ola Electric primarily manufactures EVs and certain core components such as battery packs, motors and vehicle frames at the Ola Futurefactory. As of June 2025, promoters held a 36.78 per cent stake in the electric two-wheeler (E2W) player.