A sharp recovery in March registrations and improved operations drove Ola Electric’s biggest stock rally in three months, signalling renewed momentum for the EV maker.
Shares of Ola Electric jumped nearly 16% on Wednesday their sharpest rally in over three months after the electric two-wheeler maker reported a strong recovery in March sales.
The Bengaluru-based company recorded a 150% month-on-month surge in electric scooter registrations, rising to 10,117 units in March from 3,973 units in February, according to VAHAN data. Daily orders also crossed 1,000 units during the last week of the month, signalling improving demand momentum.
The stock touched an intraday high of ₹26.36 on the National Stock Exchange of India before closing at ₹25.89, about 14% higher than Monday’s close. Despite the rally, shares remain roughly 66% below their IPO price of ₹76 listed in August 2024, reflecting earlier concerns around slowing sales and execution challenges.
The company attributed the turnaround to operational improvements after months of service-related issues. Ola Electric said over 80% of vehicles are now serviced the same day, supported by better spare-parts availability, faster diagnostics and tighter network control.
Aggressive pricing also boosted volumes. The company launched promotional offers, pricing select models from ₹49,999 and providing benefits of up to ₹50,000. March additionally marked a milestone as Ola Electric crossed 1 million cumulative EV registrations in India.
Industry-wide momentum remained strong, with electric two-wheeler registrations hitting a record 1.91 lakh units in March. TVS Motor Company retained market leadership with a 26% share, followed by Bajaj Auto (24%) and Ather Energy (19%). Hero MotoCorp ranked fourth, while Ola Electric reclaimed fifth position after briefly trailing Greaves Electric Mobility in February.
The sharp stock reaction underscores renewed investor optimism as improving operations begin translating into sales recovery.
