New Delhi, March 18 – Ola Electric Mobility Limited saw a sharp recovery in its stock price on Tuesday after hitting an all-time low earlier in the day. The stock rebounded by 12.50% to close at ₹52.80 on the Bombay Stock Exchange (BSE), as per agency report.
Earlier in the trading session, Ola Electric’s stock had slumped to ₹46.32 per share, marking its lowest level since listing. However, after touching this low, the stock witnessed strong buying interest, surging by as much as 15.86% during intraday trade.
On the National Stock Exchange (NSE), the company’s shares climbed 12.44% to close at ₹52.77. This surge in share price led to an increase in Ola Electric’s market valuation by ₹2,597.98 crore, taking its total market capitalization to ₹23,289.18 crore.
The stock had declined by over 7% on Monday amid concerns about financial difficulties faced by its subsidiary, Ola Electric Technologies Private Limited. Investor sentiment turned negative following reports that Rosmerta Digital Services Limited, a vehicle registration service provider, had filed a petition seeking insolvency proceedings against Ola Electric Technologies.
Despite these concerns, Tuesday’s sharp rebound indicated renewed investor interest, with market participants closely watching further developments surrounding the company’s financial position and legal proceedings.
