Ola Electric shares surge 17% in two days on strong March performance; daily orders exceed 1,000 units
Why it matters: Ola Electric's March performance signals a potential turnaround, impacting its stock value and India's EV adoption.
- Ola Electric's shares jumped 17% in two days, with a 3% increase to Rs 26.69 apiece on Wednesday, though still down 65% from its IPO price of Rs 76.
- Daily orders for Ola Electric surpassed 1,000 units in the last week of March, contributing to a 150% month-over-month increase in registrations to 10,117 units.
- Ola Electric claims its demand recovery is driven by structural transformations in service operations, with over 80% of vehicles now serviced on the same day due to improved parts availability and faster diagnostics.
- The company became the first EV brand in India to cross 1 million cumulative registrations in March, citing VAHAN data.
- Ola Electric previously reported a 55% year-over-year drop in consolidated revenue to Rs 470 crore for Q3 FY26, with net loss narrowing to Rs 487 crore and deliveries declining 61% year-over-year to 32,680 units.
Ola Electric's shares surged 17% in two days following a "strong comeback" in March, with daily orders exceeding 1,000 units and registrations jumping over 150% month-over-month. The company attributes this recovery to significant improvements in service operations, leading to faster turnaround times and enhanced customer experience, despite a prior 65% drop from its IPO price.
