Ola Electric on Tuesday announced the launch of two new EV scooters, which will be priced at Rs 39,000. Due to this announcement made by Ola, a rally was seen in the shares of Ola today on Wednesday 27th November. Shares of Ola Electric closed at 88.10 with a rise of about 20 percent. In the last trading day, shares of Ola Electric Mobility Limited had closed at Rs 73.47, which saw a rise of 19.99 percent today, after which the market cap of the company has increased by about Rs 65,00 crore.
Company CEO Bhavish Aggarwal gave information about the new launch by posting on social media platform X on Tuesday. He said that the company will soon launch Ola S1 Z and Gig range in the market, the starting price of which will be Rs 39,000. The effect of this decision of Ola is clearly visible in the market on 27th November.
This decision of Bhavish breathed life into the shares of Ola and its shares became a rocket as soon as the market opened. Ola shares had fallen by about 34.13 percent in the last 3 months. However, today a 20 percent jump is being seen in the company’s shares.
Shares fell due to controversy and bad ratings
Ola’s IPO came in the month of August this year. Its listing was not as expected. But later its shares reached Rs 157.63. Recently, there were many complaints regarding Ola scooters, such reports were coming out that it is taking a lot of time at the service centers to get the Ola scooters repaired. There was a lot of debate on social media between the company’s CEO and comedian Kunal Kamra regarding this and due to this, Ola’s shares fell significantly.