The end of the year appears to have brought laurels of growth for Bhavish Aggarwal-led Ola Electric. The electric scooter maker after suffering for most of November, inside and outside the equity market, has now surged in value.
Ola’s Recovery
The shares of the Bengaluru-based company rose by over 8 per cent just in the past 5 trading sessions. The shares have hit the 3-digit figure again after a mini hiatus. It is to be noted that this is still far behind its all-time high figure of Rs 157.40 per share.
On Wednesday, the story in green continued for the company, as the shares, once again surged by over 1 per cent in the early hours of the day’s trade.
This recent surge in its fortunes is largely being attributed to the company new product launches. Towards the end of November, the company the company unveiled the Gig and S1 Z Scooters, starting at Rs 39,999.
The scooter has a range of 75 km and a top speed of 70 kmph.
In addition, the company also launched a new set of portable batteries
These vehicles have marketed, specifically targeting the growing gig-worker economy.
Ola Electric Shares
When we lay emphasis on the company shares, as the day progressed, this surge however tappered down a little, as the overall value dipped below Rs 100 per piece.
In the past five trading session the aggregate advancement in the Ola shares stood at 7.60 per cent or Rs 6.99. This took the overall value higher that it had been in the past few weeks.
As of Wednesday, at 11:17 IST, the shares rose in value by 0.40 per cent or Rs 0.39. It needs to be noted, earlier the advantage stood at over 1.70 per cent. This took the overall of the company shares to Rs 98.93 per piece.
