Ola Electric Extends Rally, Jumps 20% To Hit Upper Circuit

Shares of EV maker Ola Electric continued their upward movement, surging nearly 20% to hit the upper circuit today. 

The stock closed at ₹36.34, up 19.97% from its previous close of ₹30.29. It opened higher at ₹30.49 and climbed steadily through the day to touch its upper circuit limit. 

Over 42 Cr shares changed hands during the session today, translating into a turnover of around ₹147 Cr. The company’s market capitalisation stood at ₹16,029 Cr (about $1.7 Bn) at the end of the session.

The rally came after the company said on Tuesday (April 7) that its in-house developed 46100 Lithium Iron Phosphate (LFP) cell is ready, a key step in its push towards vertical integration and cost-efficient EV manufacturing. 

“Developed as part of Ola’s vertically integrated battery innovation efforts, the new 46100 format LFP cell is bigger than the current NMC 4680 Bharat Cell and represents a step change in scale, cost efficiency, and applicability across both mobility and energy storage solutions, and will begin entering Ola’s products starting next quarter,” the company said in the statement.

Ola Electric is currently ramping up its Gigafactory’s capacity to 6 GWh from 2.5 GWh, while vehicles integrated with 4680 Bharat Cells are already on the road.

Earlier this month, the company secured Production Linked Incentive (PLI) certification for its ebike Roadster X+ 4.5 kWh, confirming compliance with domestic value addition norms and making it eligible for government incentives.

The company also cut the price of Roadster X+ 9.1 kWh by 31% last week, driven by improved cell production and cost efficiencies from vertical integration. The move was also aimed at increasing its vehicle registrations. 

After seeing decline in its sales and market share for months, the Bhavish Aggarwal-led company saw signs of recovery last month. Its electric two-wheeler registrations surged 139% MoM in March 2026 to 9,496 units, with daily registrations crossing 1,000 units in the last week of the month and cumulative registrations surpassing the 1 Mn mark. Market share improved to over 5%, helping the company regain the fifth position in the segment.

The company claimed that it has improved its after-sales service, with same-day resolution now exceeding 80%. Besides, its initiatives like extended warranties of up to eight years and assured buyback schemes also seem to be showing results. 

As a result of all these, the company’s shares have surged over the past week or so. The stock has zoomed over 59% from its closing price of ₹22.82 on March 30. However, it still remains below the IPO price of ₹76.

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