Ola Electric shares zoom 7% ahead of Q2 results; here's what to expect
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Ola Electric shares surged 7 per cent in Thursday’s trade ahead of the company’s Q2 results.
- ✓Analysts noted the stock is showing signs of recovery after forming a base.
- ✓Virat Jagad said, "A sustained breakout above ₹38-42 could strengthen the bullish reversal, while ₹35-36 is an important near-term support zone."
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Standard
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Ola Electric share price: Electronic two-wheeler maker Ola Electric Mobility shares surged 7 per cent in Thursday's trade amid expectations of sequential improvement in the company's September quarter results due later in the day.
Ola Electric's share price rose to the day's high of ₹37 on the BSE, up 7.4 per cent, amid higher-than-usual volumes. As of 10.37 AM, 99.8 million shares of Ola had already changed hands on BSE and NSE combined.
At the last check, the small-cap EV stock was up 5.08 per cent at ₹36.19.
Virat Jagad, senior technical research analyst at Bonanza, said that Ola Electric Mobility is showing signs of recovery after forming a base around ₹30-32, with price reclaiming its 20, 50 and 100 EMAs.
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