Ola Electric shares rise 10%, stock up 77% in 6 months; should you buy, sell or hold?

The latest market report highlights that Ola Electric Mobility shares rose nearly 10 percent in Wednesday's market session, extending upside for the third straight day, with market watchers calling it a turnaround story.

The stock was quoted at Rs 41.50 per share on the NSE, up 9.85 percent, at around 2:40 pm.

Nitant Darekar, Research Market observer at Bonanza, stated the nearly 80 percent surge from the March low of Rs 22.25 reflected a turnaround story rather than a recovery in earnings.

"Q1FY27 topline declined 45 percent YoY to Rs 455 crore but rose 72 percent QoQ, as market share recovered to 8.4 percent from 5.1 percent. Gross margin held at 30.5 percent despite commodity inflation," he stated.

The climb additionally came amid a combination of developments around Ola Electric of late, including the firm's S1Z launch and a Rs 95.8-crore incentive sanctioned under the government's Production Linked Incentive (PLI) scheme.

According to Darekar, key triggers include the Gigafactory expansion from 2.5 GWh towards 6 GWh, merchant cell sales and a Rs 1,500-crore fundraise enabling resolution.

"With an adjusted EBITDA loss of Rs 195 crore, breakeven depends on volumes continuing to grow," he stated.

Shares of Ola Electric are up 77 percent in the last six months, according to data available on BSE Analytics.