Source : INDIA TODAY NEWS
Shares of Ola Electric Mobility Ltd extended their rally on the Bombay Stock Exchange, climbing around 6% on Friday as strong momentum in the stock continued for yet another session.
At 9:44 am, the stock was trading at Rs 38.71, up Rs 2.37 or 6.52%. Yesterday, the stock closed nearly 20% higher.
The latest move builds on gains seen in recent sessions, with the stock rebounding sharply from earlier lows and outperforming the broader market.
MOMENTUM DRIVEN BY MULTIPLE TRIGGERS
The rally is being supported by a mix of positive developments around the company’s business and technology roadmap.
Progress on its in-house battery technology, particularly lithium iron phosphate cells, has improved sentiment as it signals potential cost efficiencies and better control over supply chains.
At the same time, improving demand indicators, including recent sales momentum, have added to investor confidence.
The company’s ongoing investments in manufacturing capacity and its gigafactory plans have further strengthened the long-term growth narrative, drawing renewed interest in the stock.
RECOVERY GATHERS PACE, BUT CAUTION REMAINS
The sharp gains also reflect a recovery after a period of sustained weakness, with buying interest returning at lower levels. The current upmove suggests the rally is not limited to a single session but part of a broader rebound.
Even so, concerns around profitability and execution persist in a competitive electric vehicle market.
While near-term sentiment has improved, the stock remains sensitive to news flow and business performance, making sustainability of the rally a key factor to watch in the coming sessions.
– Ends
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SOURCE :- TIMES OF INDIA
