Ola Electric shares inflation 10%, hit upper circuit limit

Shares of electric two-wheeler company Ola Electric Mobility Ltd jumped 10 per cent to hit the upper circuit limit on Tuesday.
The stock closed 9.71 per cent higher at Rs 118.10 on the BSE. During the day’s trade, it rose 9.98 per cent to Rs 118.40, which hit the upper circuit limit.
The company’s shares gained 10 per cent on NSE and hit a highest trading limit of Rs 118.36 for the day.
The market valuation of the company stood at Rs 52,091.90 crore.
Shares of Bhavish Aggarwal-led Ola Electric Mobility Ltd made their market debut on August 9 this year.
The stock has so far jumped 55.39 per cent from the issue price of Rs 76.
Ola Electric Mobility’s Rs 6,145-crore initial public offering was subscribed 4.27 times last month.
The price range for the initial share sale was Rs 72-76 per share.
Ola Electric manufactures EVs and some key EV components such as battery packs, motors, and vehicle frames at the Ola Futurefactory.