Ola Electric’s Smart Recovery Ola Electric Mobility Limited CEO Bhavish Agrawal today shared information on social media platforms. The number of stores of the company will be increased from 800 to 4000 in 1 month, this news directly effected on the company shares. OLA Electric Mobility’s share price recovers over 15% from intra-day low levels on aggressive store expansion in a month.
Table of Contents
Ola Electric’s Smart Recovery What is X post?
In the post shared by the CEO Bhavish Agrawal, it is written that this month we are going to enter the next level of electric evolution. Under which we will reach from 800 stores to 4000 stores. The company’s objective behind this is to get as close to its customers as possible.
All stores opening together on 20th Dec across India. Probably the biggest single-day store opening ever!” posted Bhavish Aggarwal on platform X. “All stores have service capacity too,” he added.
Company shares were listed on Share Bajar on 9 August. In the last 1 month, the company’s shares have given a return of 15% to its investors. The market cap of the company is Rs 30.20 lakh crore. Company shares listed on NSE &BSE on 9th August.
Ola Electric’s IPO opened on August 2 and closed on August 6. The company had raised Rs 6,145.56 crore through this issue.
Ola Electric’s Smart Recovery: OLA Electric Mobility in Q2
The company reported a net loss of Rs 495 crore, which was slightly lower compared to the loss of Rs 524 crore posted in the same quarter last year. The company had reported a loss of Rs 347 crore in Q1 FY25. The revenue for the period rose by 39.1% on year to Rs 1,214 crore, compared to Rs 873 crore in the year-ago quarter.
Ola Electric’s Smart Recovery: OLA Electric Vs Nifty 50
The stock of the newly listed electric mobility company has risen 31% in the last five trading sessions. It has given a return of over 15% in the last month and almost 3.4% from the listing price. Although the stock of OLA Electric is down over 40% from its recent peak.
To compare, the benchmark index, Nifty 50, has risen 0.74% in the last five trading days. However, the index has given a return of 0.55% in the last month and 3.7% in the past six months. The index delivered 11% of returns from year to date and 16.6% in the past year.
Ola Electric's promoter, Bhavish Aggarwal, to pledge 1.10% equity as part of a non-disposal undertaking with a borrower.#Nifty #Nifty50 #banknifty #niftybank #Dow #SP500 #Nasdaq #stockmarket #Bitcoin #zerodha #stocks pic.twitter.com/qalR3F3sZA
— Nifty speak loud (@Niftyspeakloud) December 2, 2024
Ola electric mobility
- Bangalore-based Ola Electric Mobility was established in 2017.
- The company mainly manufactures electric vehicles, battery pack motors, and vehicle frames in Ola’s future factory.
- As of 31 March 24, the company had a total of 959 employees, of which 907 were permanent and 52 were freelancers
Jay Chavda He is the Founder and Writer of businesspulsecare.com. He is an I.T Engineer, Freelancer, Businessman. He posts Business, Stock/Share Market, Finance Related News and updates on the website. 🔗