Ola Share Analysis: Founder Director of Elixir Capital Dipan Mehta feels that the euphoria in Ola Electric share price is just because of the IPO and the stock does not prove to be ‘strong fundamentally’.
Shares of Ola Electric Mobility Solutions Ltd. hit an upper circuit of 20% on Friday after the company marked its entry into the electric motorcycle segment by launching Roadster Series. This is the third session that the stock is locked in upper circuit since listing on Aug. 9. At the company’s annual event, Sankalp 2024, CEO Bhavish Aggarwal said that the launch is not just about expanding their product line but also about leveraging existing infrastructure to drive efficiency and scalability. “As we scale the production of our motorbike over the next few quarters, it will maximise the output from our current factory and investments,” he said, adding that the bike will start with the same margin as our scooters today.
#ola #stockmarket #news
source
