Ola Electric Share Price Rises Sharply in FY27: Factors Behind the Surge

Ola Electric Shares Surge 77% in FY27, on Track for Technical Breakout

Shares of Ola Electric Mobility have been in an uptrend since the start of the new financial year, with the company's share price surging from ₹22.80 per share on the NSE to ₹40.40 per share on Friday. This represents a nearly 77% rise in the new financial year.

The rally in Ola Electric's share price is driven by rising EV sales and improving sentiment toward EVs, according to market experts. Ola Electric shares are on the cusp of giving a technical breakout at ₹46 apiece and can go up to the ₹60 per share mark after this technical breakout.

Market analysts attribute the surge in Ola Electric's share price to several factors, including improving EV sales, positive updates on battery and Gigafactory developments, positive EV sector sentiment, and strong investor sentiment. The company's share price is currently trading near ₹40.88 and is approaching its 200-day EMA, which may act as a key resistance zone.

A comparison of Ola Electric's share price movement is presented below:

| Quarter | Ola Electric Share Price | | --- | --- | | FY27 Q1 | ₹22.80 | | FY27 Q2 | ₹40.40 |

As can be seen from the table, Ola Electric's share price has risen sharply in the new financial year, with a nearly 77% increase in the second quarter.

According to Aakash Shah, Research Analyst at Choice International, the stock has broken above its 20-, 50-, and 100-EMA levels, suggesting a potential trend reversal after a prolonged downtrend. RSI is in the overbought zone, suggesting strong momentum but also a chance of short-term consolidation.

If the stock sustains above ₹42, it could move towards the ₹48 to ₹52 levels. On the downside, ₹36 is immediate support, while ₹32 remains a strong stop-loss zone, said Shah.

Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, expects the bull trend to continue further, with the stock expected to move towards a target of ₹46. A sustained breakout above ₹46 could further strengthen the uptrend, potentially leading to a channel breakout and opening up higher targets around ₹60. Investors may consider a "buy on dips" strategy, maintaining a stop-loss at ₹30, while aiming for upside targets of ₹46 and ₹60 in the medium term, said Dongre.