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With Friday’s jump, the stock is back near its IPO price of ₹76. As of Thursday’s closing, shares of Ola Electric Mobility were down 57% from its post-listing peak of ₹157.
According to VAHAN data, Ola Electric’s market share at the end of January stood at 30%, which is an increase from the 19% level last month.
Ola Electric had offered discounts on the S1 model for a few days in October, as well as November.The company will report its sales figures for December over the next few days.
Out of the eight analysts who have coverage on Ola Electric Mobility, four of them have a “buy” rating on the stock, while two analysts each have a “hold” and “sell” rating on the stock respectively.
Ola Electric Mobility had made its stock market debut last year and within a few days of listing, the stock had doubled from its IPO price, before correcting.
Ola Electric Mobility shares are trading 11% higher on Friday at ₹74. Despite Friday’s move, the stock is down 14% over the last one month.
