Ola Electric shares hit 20% upper circuit on 32% revenue growth and launch of three e-motorcycles

2 min read | Updated on August 16, 2024, 11:19 IST

SUMMARY

Ola Group on Thursday announced its entry into the electric motorcycle segment by launching three models and developing two more. The group has also rebranded its ride-hailing service as Ola Consumer, announced a partnership with ONDC, and launched automated warehousing solutions to meet quick commerce requirements.

Ola Electric's bike portfolio under the Roadster range comprises Roaster X, Roadster, and Roadster Pro.

Ola Electric shares hit their upper circuit on Friday after the electric two-wheeler maker's revenue jumped 32% to ₹1,644 crore in the first quarter of the current financial year. The company had reported a revenue of ₹1,243 crore a year back.

The stock gained 20% to ₹133 apiece to hit the upper circuit in the National Stock Exchange (NSE).

Ola Electric reported a consolidated loss of ₹347 crore for the latest June quarter of fiscal 2024-25 compared to ₹267 crore in Q1 FY24.

The company said the automotive segment EBITDA margin for the quarter under review was negative 1.97%, down from negative 8.29% in the year-ago period.

Also Read: Ola Electric Q1 Results Highlights: Electric two-wheeler maker reports net loss of ₹347 crore, revenue up 32%

Ola makes foray into electric motorcycle

On Thursday, Ola Group announced its entry into the electric motorcycle segment by launching three models and developing two more.

The group has also rebranded its ride-hailing service as Ola Consumer, announced a partnership with ONDC (Open Network for Digital Commerce), and launched automated warehousing solutions to cater to quick commerce requirements. Besides, the company said it will bring to the market the first made-in-India-designed and developed family of chips for artificial intelligence (AI), general computing, and Edge by 2026 under its Krutrim venture.

Speaking at Sankalp 2024, Ola's annual launch event, Ola Founder and CEO Bhavish Aggarwal said that presently, two-thirds of India's two-wheeler market consists of motorcycles, and it was imperative for the company to enter this segment.

"We have already been successful in accelerating the EV adoption in the scooter segment, and with our futuristic portfolio of products, we are now focused on supercharging the EV penetration through our motorcycles," he said.

Aggarwal said Ola's indigenously developed 'Bharat 4680' cell and battery pack will be integrated with its vehicles starting Q1 FY26. The company so showcased its all-new Gen-3 platform for two-wheelers.

Ola Electric's bike portfolio under the Roadster range comprises Roaster X, Roadster, and Roadster Pro, with prices starting at ₹74,999, ₹1,04,999, and ₹1,99,999, respectively. Deliveries of these bikes will begin in Q4 FY25, and Roadster Pro deliveries will begin in Q4 FY26.

The company also teased two new motorcycles.

Ola also plans to deploy 1 lakh two-wheeler EVs throughout the next two years.

With PTI inputs

About The Author

Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Upstox Securities Pvt. Ltd.: SEBI Registration No. INZ000315837 | NSE TM Code: 13942 | BSE TM Code: 6155 | CDSL Reg No.: IN-DP-761-2024 | CIN: U65100DL2021PTC376860 | Compliance Officer: Mr. Kapil Jaikalyani. Tel No.: (022) 24229920. Email ID: compliance@upstox.com | Registered Address: 809, New Delhi House, Barakhamba Road, Connaught Place, New Delhi - 110001 | RKSV Commodities India Pvt. Ltd.: SEBI Registration No.: INZ000015837 | MCX TM Code: 46510 | CIN: U74900DL2009PTC189166 | Compliance Officer: Mr. Amit Lalan. Tel No.: (022) 24229920. Email ID: compliance@rksv.in | Registered Address: 807, New Delhi House, Barakhamba Road, Connaught Place, New Delhi - 110001. Correspondence Address: 30th Floor, Sunshine Tower, Senapati Bapat Marg, Dadar (West), Mumbai - 400013. | For any complaints, email at complaints@upstox.com and complaints.mcx@upstox.com.

Procedure to file a complaint on SEBI SCORES: Register on the SCORES portal. Mandatory details for filing complaints on SCORES include: Name, PAN, Address, Mobile Number, and E-mail ID. Benefits include effective communication and speedy redressal of grievances. Please ensure you carefully read the Risk Disclosure Document as prescribed by SEBI, along with our Terms of Use and Privacy Policy.

Upstox Securities Private Limited is a wholly owned subsidiary of RKSV Securities India Private Limited and RKSV Commodities India Private Limited is an associate of RKSV Securities India Private Limited.

Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing.
*Brokerage will not exceed the SEBI prescribed limit.

Risk disclosures on derivatives -

9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
On an average, loss makers registered net trading loss close to ₹ 50,000
Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

Mutual Funds: Top rated funds do not constitute any advice. Research data is powered by Morningstar. Please read the offer documents carefully before investing. Upstox shall not accept any liability arising out of your investments.
These are not Exchange traded products, and the Member is just acting as distributor. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism.

Attention Investors: As per NSE circular dated July 6, 2022, BSE circular dated July 6, 2022, MCX circular dated July 11, 2022 investors are cautioned to abstain them from dealing in any schemes of unauthorised collective investments/portfolio management, indicative/ guaranteed/fixed returns / payments etc. Investors are further cautioned to avoid practices like:
a) Sharing i) trading credentials – login id & passwords including OTP’s., ii) trading strategies, iii) position details.
b) Trading in leveraged products /derivatives like Options without proper understanding, which could lead to losses.
c) Writing/ selling options or trading in option strategies based on tips, without basic knowledge & understanding of the product and its risks
d) Dealing in unsolicited tips through like Whatsapp, Telegram, Instagram, YouTube, Facebook, SMS, calls, etc.
e) Trading / Trading in “Options” based on recommendations from unauthorised / unregistered investment advisors and influencers.

Kindly, read the Advisory Guidelines For Investors as prescribed by the Exchange with reference to their circular dated 27th August, 2021 regarding investor awareness and safeguarding client’s assets : Advisory Guidelines For Investors

Kindly, read the advisory as prescribed by the Exchange with reference to their circular dated January 14, 2022 regarding Updation of mandatory KYC fields by March 31, 2022: KYC Updation

Attention Investors: Prevent unauthorised transactions in your Demat account by updating your mobile number with your depository participant. Receive alerts on your registered mobile number for debit and other important transactions in your Demat account directly from CDSL on the same day. Prevent unauthorised transactions in your Trading account by updating your mobile numbers/email addresses with your stock brokers. Receive information on your transactions directly from the Exchange on your mobile/email at the end of the day. Issued in the interest of investors. KYC is a one-time exercise while dealing in securities markets - once KYC is done through a SEBI-registered intermediary (broker, DP, Mutual Fund, etc.), you need not undergo the same process again when you approach another intermediary. As a business, we don’t give stock tips and have not authorised anyone to trade on behalf of others. If you find anyone claiming to be part of Upstox or RKSV and offering such services, please send us an email at complaints@upstox.com and complaints.mcx@upstox.com.

No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor’s account. Stockbrokers can accept securities as margin from their clients only by way of a pledge in the depository system w.e.f. 1st September 2020.
Update your email ID and mobile number with your stockbroker/depository participant and receive an OTP directly from the depository on your registered email ID and/or mobile number to create a pledge.
Check your securities/mutual funds/bonds in the Consolidated Account Statement (CAS) issued by NSDL/CDSL every month.

Attention Investors: SEBI has established an Online Dispute Resolution Portal (ODR Portal) for resolving disputes in the Indian Securities Market. This circular streamlines the existing dispute resolution mechanism, offering online conciliation and arbitration, benefiting investors and listed companies. https://www.sebi.gov.in/legal/circulars/jul-2023/online-resolution-of-disputes-in-the-indian-securities-market_74794.html ODR portal for Investors - https://smartodr.in/login

Ola Electric shares hit 20% upper circuit on 32% revenue growth and launch of three e-motorcycles

Ola makes foray into electric motorcycle

Market Wrap, December 20: SENSEX, NIFTY50 nosedive again; both indices tumble around 5% this week

Mamata Machinery IPO subscribed over 34 times on Day 2, retail investors, NIIs lead; check key dates

International Gemmological Institute shares settle 7.4% lower after listing at 22% premium

KPI Green Energy, Sagility India and SPML Infra are among key stocks to hit the circuit today

Trade setup: Bearish weekly close for NIFTY?

Trade setup: Will NIFTY hold THIS crucial support zone?