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Ola Electric Shares Today: Shares of Ola Electric Mobility jumped as much as 11 per cent to Rs 49 apiece on August 20, after around 0.3 per cent equity changed hands through ten block deals. The spike in volume and price marks continued investor interest in the electric vehicle (EV) startup, which has now posted gains in four of the last five sessions.

In last one week, Ola Electric shares have surged upto 20 per cent outperforming the Nifty 50, which rose just 1 per cent during the same period.

The recent rally comes on the back of a strategic roadmap unveiled by Bhavish Aggarwal, founder and chairman of Ola Electric, during the company’s annual Sankalp event. Aggarwal laid out ambitious goals for the company, targeting a 25–30 per cent market share in India’s two-wheeler EV segment.

“Our target market share for two-wheeler EVs is about 25 to 30 per cent with very high margins. We believe we are on the trajectory again,” Aggarwal said, emphasising that Ola’s “mojo is still there” despite recent challenges.

The company has recently phased out its Gen 2 scooters, ramped up supply of Gen 3 models, and launched its first electric bike. Ola Management also believed that expansion of its distribution network will also benefit the company on the coming festive season.

CEO Bhavish Aggarwal agreed to the fact that profitability in the EV space remains elusive industry-wide, stating that scale alone is not enough.

“No one is making money. To make money with EVs, you need vertical integration, technology development, and a technology-first DNA,” he said.

Ola Electric is banking on vertical integration to keep costs low and improve margins — a strategy it claims will differentiate it from peers in the long run.

While the company reported a weaker first quarter year-on-year, its financials improved sequentially. Notably:

Gross margin rose by 1,100 basis points quarter-on-quarter

Gross margin also improved 740 basis points year-on-year

Current gross margin: 26 per cent

Full-year margin guidance: 35–40 per cent

Losses narrowed during the quarter, and revenue showed improvement, reflecting the early impact of the company’s operational and product strategy shifts.

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Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate affairs, with prior stints at Business ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.