Shares of Ola Electric Mobility Limited saw a significant increase on the National Stock Exchange, climbing as much as 7 percent intraday on Thursday, before settling at ₹35.77, which represents a 3.89 percent rise from the previous close of ₹34.43. This upward movement comes as investors position themselves ahead of the company’s second-quarter earnings announcement for FY2026-27, scheduled for later today at 5:00 PM IST. The earnings call will feature key figures including Founder, Chairman and Managing Director Bhavish Aggarwal and Chief Financial Officer Deepak Rastogi, who will discuss the unaudited standalone and consolidated financial results for the quarter and half-year ending September 30, 2026. During the trading session, the stock reached an intraday high of ₹37.00, marking its best performance in recent times, with a trading volume exceeding 1,224 lakh shares valued at approximately ₹443 crore. As of midday, Ola Electric's market capitalization stood at ₹16,541.93 crore.
The surge in Ola Electric shares is part of a broader rally in the electric vehicle (EV) sector, spurred by new government policies that favor electric mobility. The Finance Ministry has announced that electric vehicles will now be the "default and preferred choice" for government staff car procurement across all ministries and departments. This policy change includes an increase in the net dealer price ceiling for EVs to ₹20 lakh, while the limit for internal combustion engine vehicles has been capped at ₹10 lakh. These measures are designed to promote electric mobility and reduce reliance on fossil fuels, which has positively impacted the stock prices of companies like Ola Electric. Following a flat market debut in August 2024, Ola shares previously reached a lifetime high of ₹157.40 later that year but have experienced significant volatility since, including a drop to a low of ₹22.25 in March 2026 before recovering.S2
Despite the recent gains, Ola Electric's stock remains down over 17 percent year-on-year and has reported losses for eight consecutive quarters. Analysts note that the stock is currently trading below its 200-day exponential moving average near ₹38, a critical resistance level. The company's 52-week trading range has been between ₹22.25 and ₹49.05, indicating a volatile performance over the past year. As investors await the earnings results, the focus will be on whether Ola Electric can demonstrate a turnaround in its financial performance and how it plans to navigate the evolving landscape of the electric vehicle market in India.S1S2
