Ola Electric shares continue to rise, stock rose about 16 percent in Friday's trading session

Ola Electric shares have really had a good run-up since listing. The market touched the upper circuit limit for 3 sessions this week. Even today, Ola Electric Mobility shares rose 16 percent in early trade.

The company's shares were trading 15.77 percent higher at Rs 128.09 per share on BSE. Ola Electric shares are trading 15.59 percent higher at Rs 128.20 per share on the NSE. After the rise in shares, according to the BSE website, the M-Cap of Ola Electric has gone up to Rs 58,558.18 crore.

Ola Group has announced that it is going to launch 3 models in the electric motorcycle segment. Other than this, there are 2 models lined up in the pipeline; which means the company can launch 2 more models soon.

The company has informed that its operational revenue was Rs 1,644 crore during the current financial year with the new model; it was Rs 1,243 crore during the same quarter of the previous business year. The marvelous rise in revenue and declaration of launching new models have increased investors' interest.

It is in this regard that the quarterly result has been responded to by the chairman and CEO of the company, Bhavesh Aggarwal. He has stated that looking at growth and profits, Q1 has certainly been great.

Ola founder Bhavish Aggarwal, in an annual launch event in Sankalp 2024, said two-thirds of India's two-wheeler market comprises motorcycles today. Such was the situation wherein entry into this category was required for the company. Ola Electric enters the motorcycle segment after getting a taste of success in the EV-scooter vertical.

Besides this, Ola said, it will bring to market the first indigenously designed and developed chips for AI, general computing, and Edge by 2026 under its Krutrim Venture.