Ola Electric Mobility Share price today: Shares Surge Over 6% - Here’s Why

Shares of Ola Electric Mobility saw a notable uptick on Thursday, December 26, as the company announced a major milestone in its expansion efforts.

Ola Electric Mobility Share Surge
The stock surged over 6%, hitting an intraday high of Rs 99.95 on the National Stock Exchange (NSE) following the announcement of the company’s expansion to 4,000 stores across India.

‘'Ola Electric, India’s largest pure-play EV company, today expanded its network to 4,000 stores nationwide, registering a four-fold increase from the existing network,’ as mentopned in the exchange filing.

In a filing with the exchange, Ola Electric highlighted that it had successfully launched 3,200+ new stores, making a massive leap in its retail network.

This expansion marks a four-fold increase from its previous number of stores and is one of the most significant footprints for electric vehicles (EVs) globally.

Ola Electric Mobility share price today 
Following the announcement, Ola Electric’s share price opened at Rs 94.05, climbing to a high of Rs 99.95 by the end of the day. The company now boasts a market capitalization of Rs 41,272.14 crore.

Ola Electric Mobility share price history 
In terms of its stock performance, Ola Electric’s shares have seen a 1.81% decline over the past week, but a 27.10% rise in the past month. However, the stock has experienced a 9.78% decline over the last three months.