Ola Electric Shares Surge 35% in 5 Days on New Scooter Launch

Ola Electric Mobility’s stock is on fire! Shares jumped 6% on November 28, continuing a five-day winning streak. What’s fueling this rally? It’s the excitement around Ola’s latest, wallet-friendly electric scooters — the S1 Z and Gig series — priced as low as ₹39,000. With brokerage firms giving the launch a big thumbs-up, investor enthusiasm is soaring.

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By 9:49 am IST, the stock was trading at ₹91.89 on the NSE, marking a whopping 35% increase over five sessions.

Adding to the momentum, Citigroup issued a ‘buy’ recommendation with a target price of ₹90. Why? Ola’s impressive 38% market share in the EV two-wheeler segment, its strong lineup of products, cutting-edge R&D, and in-house lithium-ion cell production. These factors, according to Citi, put Ola in a sweet spot for sustained growth in the long run.

Citi also expects Ola’s upcoming launches — electric motorcycles and three-wheelers (E3Ws) — to further pump up sales. While the company has faced some hiccups in its service operations, Citi predicts these will smooth out as supply chains stabilize. The brokerage values Ola based on a 4x FY26 EV/Sales multiple, reflecting its leadership in an industry that’s growing at lightning speed.

Carnelian Asset Management’s founder, Vikas Khemani, echoed this optimism. He believes Ola’s new lineup could push its market share to 35–40%. “We’re anticipating profitability this year, which could cement Ola as a key player in the automotive world,” Khemani said.

The excitement really picked up on November 27 when Ola share price surged 8%, spurred by the announcement of its new scooter range and foray into the commercial vehicle market.

Ola unveiled its Gig and S1 Z series scooters, priced between ₹39,999 and ₹64,999, along with the PowerPod inverter at ₹9,999. The Gig series is designed specifically for gig workers, marking Ola’s debut in the commercial vehicle sector. These scooters, available in two variants (Gig and Gig+), are priced at ₹39,999 and ₹49,999 (ex-showroom), targeting B2B buyers and rental services.

The S1 Z scooter, priced at ₹59,999, is perfect for urban commuters, including students, professionals, women, and senior riders. Meanwhile, the S1 Z+ model is a versatile option for both personal and commercial use, making it ideal for e-commerce deliveries and small businesses. With enhanced durability and range, these scooters are ready to tackle city streets, semi-urban areas, and even rural roads.

One standout feature is Ola’s portable batteries, which can also act as inverters thanks to the PowerPod. This clever accessory, priced at ₹9,999, can power essential household devices like lights, fans, TVs, and Wi-Fi routers for about three hours, with a maximum output of 500W and a 1.5kWh battery.

Pre-orders for the Gig and S1 Z series are open now for just ₹499, with deliveries expected in April and May 2025.