On Thursday, December 26, shares of Ola Electric Mobility Limited saw a significant rise of over 6%, reaching an intraday high of ₹99.90.
This increase follows the company’s announcement to expand its store network to 4,000 locations.
Ola has recently added over 3,200 new stores, many of which are co-located with service centers.
This expansion extends beyond metropolitan areas to tier-1 and tier-2 cities, strengthening Ola’s presence across India.
New Features and Limited-Edition Model
Ola Electric has opened priority registrations for the beta version of its MoveOS 5 software.
The update includes new features like group navigation, live location sharing, and a road trip mode powered by Ola Maps.
In addition, the company has unveiled the limited-edition Ola S1 Pro Gold, which features elements plated with genuine 24-carat gold, appealing to premium customers.
Analysts’ Optimism and Stock Performance
Brokerage firm Citi remains optimistic about Ola Electric’s future.
In a note dated November 27, Citi emphasized the potential of upcoming motorcycles and electric three-wheelers to boost sales.
Despite initial concerns about service sentiment, Citi predicts improvement and has assigned a ‘buy’ rating with a price target of ₹90, a level now surpassed by the stock.
Out of seven analysts tracking the company, five recommend a ‘buy’ rating, while two suggest a ‘sell.’
Ola Electric’s shares have surged 34% in the past month and are performing well above their IPO price of ₹76, which was set earlier this year.
