Ola Electric Shares At 1-Month High, Up 8% — Here's Why

Ola Electric Ltd. is in focus after it reported a sharp uptick in market share in December. The EV player's shares are trading over 8%, with the price at Rs 40.63 apiece.

As per the company, the uptick in market share is driven by its service transformation programme and improved customer experience.

The company registered 9,020 units during the month, lifting its share to 9.3% from 7.2% in November, according to VAHAN data. In the second half of December, market share surged further to nearly 12%, signaling strong momentum.

The gains helped Ola Electric reclaim a spot among the top three EV players across nearly a dozen states, including key markets such as Tamil Nadu, Uttar Pradesh, Bihar, Jharkhand, Punjab, and Haryana.

To strengthen after-sales support, Ola deployed a 250-member rapid response team in high-backlog regions, aiming to speed up service resolution.

The company also rolled out its Hyperservice feature on the Ola Electric app, enabling customers to book service slots, track status, and manage requests seamlessly. As a result, 77% of service requests were completed on the same day in December.

On the product front, deliveries of the 4680 Bharat Cell-powered S1 Pro+ scooter, launched in November, have seen robust demand. Ola also secured government certification for its Roadster X+ motorcycle, extending the Bharat Cell platform to two-wheelers.

Additionally, its energy business is set to scale, with battery storage system deliveries expected in the coming months.

The company has expanded its workforce by over 1,000 employees and improved its nationwide parts supply chain. Its direct-to-consumer genuine parts initiative has logged more than 8,000 orders since October.

Of the eight analysts that cover Ola Electric, and are tracked by Bloomberg, three have a 'buy' rating, one has a 'hold', and four have a 'sell' call on the stock.