Shares of Ola Electric Mobility Ltd have seen a significant surge, climbing over 103% in the past three months. This sharp recovery follows a Qualified Institutional Placement (QIP) that successfully raised Rs 780 crore for the electric vehicle (EV) two-wheeler maker.
The company allotted approximately 21.8 crore equity shares at an issue price of Rs 35.86 per share. Key institutional investors participated, with Mirae Asset receiving the largest allocation at 15.38% across multiple schemes. Motilal Oswal Mutual Fund secured 9.61% of the issue, and JM Financial Mutual Fund was allotted 5.13%.
On Tuesday, Ola Electric's stock closed at Rs 47.32, extending a rally from its record low of Rs 21.21 recorded on March 2, 2026. Despite this impressive gain, the stock still trades 33.58% below its one-year high of Rs 71.25, which it touched on September 4 last year.
Advancements in Battery Technology
Beyond its financial activities, Ola Electric is actively developing lithium-ion prismatic cells for its upcoming grid energy storage product, dubbed 'Mahashakti'. CEO Bhavish Aggarwal confirmed these developments during the company’s Q4 FY26 earnings conference call.
"We are also working on a prismatic cell, which will be out soon. We haven't yet released details of that," Aggarwal stated, adding that more information would follow in the coming quarters.
Mahashakti will leverage Ola Electric's prismatic LFP (Lithium Iron Phosphate) platform. Prismatic cells are characterized by their rigid, rectangular casings, allowing for a compact and efficient packing arrangement that minimizes unused space between batteries. The company currently manufactures cylindrical cells for its automotive and battery energy storage systems.
Analyst Perspectives on Ola Electric Stock
Market analysts offer varied insights into Ola Electric's prospects. Arun Kejriwal, a veteran market observer, noted the strong rebound in the stock price and highlighted the company's advanced work on new cell technology. "Looking at its management commentary, the company may gain an edge given the ongoing cell development," Kejriwal commented.
However, Ravi Singh, Chief Research Officer at Master Capital Services, pointed out ongoing challenges. "Ola Electric remains aggressive in expansion and battery manufacturing plans, but the company is still facing concerns around service quality, execution and profitability," Singh explained.
Given the inherent volatility of the stock, Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, suggested that it might only be suitable for investors with a high-risk appetite. From a technical analysis standpoint, AR Ramachandran, a Sebi-registered research analyst at Tips2trades, indicated that while Ola Electric is currently bullish, it appears overbought on daily charts, with the next resistance level at Rs 52. He advised investors to consider booking profits, noting that a daily close below the support level of Rs 44 could trigger a fall towards Rs 36.7 in the near term.