Ola Electric shares soar 7.5% after opening bell, retreat shortly

The stock opened at ₹153.8 apiece on the National Stock Exchange (NSE), which was 5% higher than the last trading price. The scrip's value was double as compared to the IPO listing price.

Minutes into the trade, the shares climbed further to ₹157.4 apiece, which marked a gain of 7.5% as compared to the previous session's close.

However, Ola Electric retreated swiftly as trading progressed. At 9:34 am, the scrip entered into the red, trading 0.83% lower at ₹145.17 on the NSE.

Stock doubles in 7 sessions

Shares of the electric two-wheeler company made their market debut on August 9. From the issue price of ₹76, the stock jumped by more than 100% as it clocked a high of ₹157.4 after opening bell today.

The sharp growth in its stock value has been recorded by Ola Electric in only seven trading sessions since making its Dalal Street debut. The company's market valuation has jumped to nearly ₹64,411.35 crore.

Since its listing, Ola Electric has been regularly hitting the upper circuits. On Monday, the stock surged 10% to ₹146.03 -- its upper circuit limit -- on the BSE. At the NSE, it soared 9.99% to hit the upper circuit of ₹146.38.

On Friday, shares of Ola Electric had surged 20% to hit the upper circuit limit after the Ola Group announced its foray into the electric motorcycle segment with the launch of three models and two more in the pipeline.

The company also reported a 32% jump in revenue from operations for the April-June quarter of 2024-25 to ₹1,644 crore, as against ₹1,243 crore a year back.