Ola Electric Stock Sees 19% Jump Following In-House Battery Advancements and Revival in Demand
Detailed Analysis
Ola Electric Mobility Stocks Surge 19.43% Amid Market Weakness
Shares of Ola Electric Mobility rose over 19% on Thursday, bucking the broader market trend where benchmark indices experienced significant losses. The stock was trading at Rs 36.15, up Rs 5.88 from the previous day. This surge extends the ongoing momentum, with the stock gaining over 21% in the past two sessions.
The company's announcement of its in-house developed Lithium Iron Phosphate (LFP) cell is a key trigger for the surge. In a regulatory filing, Ola Electric said it has achieved readiness of its indigenous 46100 LFP cell. This 46100 format LFP cell is larger than the current NMC 4680 Bharat Cell and marks a significant improvement in scale, cost efficiency, and applicability across mobility and energy storage solutions.
The development of these cells will begin to be integrated into the company's 2-wheelers from the next quarter. This news comes alongside progress in Ola Electric's gigafactory ramp-up. Earlier this month, the company reported a strong recovery in business performance. Daily orders crossed 1,000 units in the last week of March, while registrations jumped over 150% month-on-month to 10,117 units from 3,973 units in February.
In another development, Ola Electric Mobility announced a price cut of Rs 60,000 on its Roadster X+ 9.1 kWh electric motorcycle. The Roadster 9.1 kWh is now priced at Rs 1,29,999.
| Company | Gain/Loss | Percentage Change | | --- | --- | --- | | Ola Electric Mobility | Gain | 19.43% | | Sensex | Loss | -1,200 points | | Nifty | Loss | Below 23,700 | | Infosys | Loss | 1% | | LTIMindtree | Loss | 1% | | HCL Tech | Loss | 2% |
Investor Takeaway
Investors should be optimistic about Ola Electric's in-house battery advancements and revival in demand.
