Ola Electric Mobility’s shares have skyrocketed by 71% from their listing price of Rs 76, pushing the company’s market value to over Rs 51,000 crore just three days after going public.
Today, the stock hit a new high of Rs 130 on the BSE, surging nearly 19% during the early trading session.
On Friday, the company announced that its first board meeting post-listing would be held on August 14 to discuss the first quarter results for the financial year 2025.
Ola Electric’s shares were listed at Rs 76 each, matching the IPO price, and this was in line with market expectations, though the Grey Market Premium (GMP) had turned negative before the listing.
Parth Shah, a Research Analyst at StoxBox, pointed out that while the GMP can give an idea of investor expectations, it shouldn’t be the only factor in investment decisions. He noted that despite a strong response during the subscription period, changing market sentiment led to a negative GMP.
Arindam Ghosh, Co-Founder of Alphaniti, added that stock prices eventually need to reflect their true value, even if there are fluctuations along the way. Investor interest, especially in high-growth and innovative sectors like electric vehicles, also plays a big role.
The significant rise in Ola Electric’s share price is largely due to its strong position in the electric two-wheeler market, where it holds a 35% market share.
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