Business

IIE DIGITAL DESK ; Mumbai, September 23: Ola Electric Mobility shares surged nearly 10% on Wednesday, extending their winning streak for the third consecutive session and taking the stock’s recovery from its March low to more than 86% in six months. The sharp move has brought the EV maker back into focus, although brokerages continue to flag concerns over volumes, margins and cash burn.

Ola Electric shares climbed to around ₹41.44 on the NSE during Wednesday morning trade, while the company’s market capitalisation moved above ₹19,000 crore. The rally came amid strong trading volumes and follows a sharp recovery from the stock’s March low.

Despite the recent rebound, the stock remains significantly below its lifetime high of ₹157.40, recorded in 2024. Ola Electric had touched a 52-week low of ₹22.25 in March 2026 before staging a strong recovery. On the BSE, the stock also rose as much as 12% intraday to ₹42.32 on Wednesday, according to a separate market report.

The latest rally comes amid a series of business developments, including new product launches and expansion of Ola Electric’s sales and service network through dealer-led stores. The company has also been working on cost control and its broader battery and energy-storage ambitions.

However, the company’s financial performance remains an important factor for investors. Ola Electric reported a reduction in its Q1 FY27 net loss to ₹336 crore from ₹428 crore a year earlier, but revenue from operations declined 45% year-on-year. Brokerages have therefore continued to maintain cautious views on the stock.

Citi has retained a Sell rating with a ₹26 target, while Kotak Institutional Equities has also maintained a Sell call with a ₹20 target. Goldman Sachs has a Neutral rating with a ₹40 target, citing concerns including cash burn and the pace of the company’s cell-business ramp-up. These are individual brokerage views and should not be treated as a consensus recommendation.

The sharp recovery from the March low therefore comes alongside continuing questions around sales volumes, margins, profitability, execution and cash generation. The stock’s recent performance highlights the volatility surrounding Ola Electric as investors assess whether the operational recovery can support the latest share-price gains.

Disclaimer: This report is for news and informational purposes only and does not constitute investment advice or a buy, sell or hold recommendation. Investors should conduct their own research and consult a SEBI-registered investment adviser before making investment decisions.