Ola Electric Share Price Jumps 10% on Heavy Volume; Stock Rises for 3rd Straight Day

Shares of Ola Electric Mobility rallied nearly 10% on Wednesday, September 23 adding gains for the third consecutive trading session due to heavy trading volumes.

The stock opened today at Rs. 38.25 and then climbed to an intraday high of Rs. 42.36 on the BSE, with around 94 lakh shares changing hands.

Ola Electric share has gained 9.13% over the week. The stock is currently 30% below its 52-week high of Rs. 59.20, touched on September 23, 2025.

At 1 PM, Ola Electric shares were trading 8.8% higher at Rs . 41.10 on the BSE.

Reason Behind Ola Electric Share Price Rally?

The recent movement in Ola Electric shares can be improving sequential operating performance, a recovery in market share and expectations around the company’s manufacturing expansion and proposed fundraise.

CEO Bhavish Aggarwal announced the S1Z, Ola’s first scooter range powered by its indigenous Bharat Cell LFP technology, developed at the company’s Battery Innovation Centre and manufactured at the Gigafactory in Tamil Nadu. Bookings for the S1Z opened last month, starting at Rs. 79,999.

This comes right after Ola rolled out its first cohort of dealer-operated network-partner stores (in Rajasthan, Tamil Nadu, Maharashtra, Bihar, Telangana, UP and MP). Chief Business Officer Manoj Murali framed this as taking the S1Z’s mainstream pricing deeper into every corner of India via the new dealer network. The board also approved raising authorised share capital from Rs. 8,318.50 crore to Rs. 8,721.87 crore, and the AGM is set for September 30.

Ola Electric Board Approves Fundraise of Up to Rs. 1,500 Crore

Earlier in September, Ola Electric Mobility’s board approved an enabling resolution to raise up to Rs. 1,500 crore through the issuance of equity shares and/or other eligible instruments.

The board also approved an increase in the company’s authorised share capital from Rs. 8,318.50 crore to Rs. 8,721.87 crore.
The proposed fundraising could provide the company with additional financial flexibility, subject to the applicable approvals and terms of the issue. Ola Electric’s annual general meeting is scheduled to take place on September 30th.

Ola Electric Share Price Target

Emkay Global in its report said, “While Ola is adopting measures to improve execution, cut costs/conserve cash (guides to Rs3bn quarterly opex; Rs3.8bn in Q4FY26), and improve brand perception (service-related issues now resolving). We believe this could be a difficult, long-drawn-out process, due to greater focus by incumbents + scale-up at Ather. The 13% change in FY27E-28E EPS mainly reflects lower opex/depreciation. We retain SELL/TP of Rs30 at 3.5x EV/S (Auto business) and opt to play the E-2W theme via Ather and TVSL”