The shares of India’s legendary EV maker Ola Electric are continuously increasing like a rocket. After the holiday of August 15, on Friday, its shares on the BSE once again hit an upper circuit. Actually, in today’s trading, the company’s share has registered a rise of about 16 percent. Today, its shares surged 15.8% to reach an intra-day high of Rs 128.
Impact of Q1 results and Roadster bike launch
The results of the first quarter of the financial year 2024-25 and the new electric bike Roadster launched on August 15 are being considered behind the jump in the shares of Ola Electric on Friday. The motorcycle was launched with these versions Roadster, Roadster X and Roadster Pro. The company has recorded a 32 percent jump in revenue on an annualized basis during the June quarter of financial year 2025, after which it increased to Rs 1,644 crore.
Excellent quarterly results
The company’s automotive division has recorded a jump of 34% in total income, which was recorded at Rs 1,722 crore. However, the loss after tax increased to Rs 233 crore from Rs 189 crore a year ago. The battery division recorded an income of Rs 5 crore for the quarter, while the loss after tax stood at Rs 37 crore.
68% return in 7 days
Let us tell you that last Friday i.e. a week ago, there was a weak listing of Ola Electric on the Bombay Stock Exchange. However, after the listing, the company’s shares rose by 20 percent on the same day. After this, it is continuously increasing. It has given its investors a return of more than 68 percent in 7 weeks. The shares of Ola Electric have been advised to buy by the brokerage firm HSBC with a target price of Rs 140.