Ola Electric shares surge 35% in 3 days as EV momentum accelerates

Shares of Ola Electric jumped 7.52% to Rs 39.05 on the BSE in Friday’s trade, extending a strong three-day rally that has lifted the stock nearly 35%. The sharp upswing reflects growing investor confidence, fueled by a string of positive developments and robust operational momentum.

In a regulatory filing dated April 7, the company announced that its in-house developed Lithium Iron Phosphate (LFP) battery cell is now production-ready. This milestone marks a significant step in Ola Electric’s ambition to build a fully integrated energy ecosystem. The adoption of LFP chemistry is expected to substantially reduce vehicle costs, potentially making electric mobility more affordable and accelerating EV adoption across India.

Just days earlier, on April 3, Ola Electric strengthened its manufacturing credentials by securing Production Linked Incentive (PLI) certification for its Roadster X+ 4.5 kWh variant. The certification, granted by the Global Automotive Research Centre under the government’s PLI-Auto Scheme, reinforces the company’s compliance and eligibility for incentives—further supporting its long-term growth strategy.

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Operationally, the company is also witnessing a strong comeback. March 2026 marked a sharp turnaround, with daily orders crossing 1,000 units in the final week of the month. Registrations surged over 150% month-on-month to 10,117 units, compared to 3,973 units in February—signalling a robust revival in demand and a clear V-shaped recovery in market share.

A company spokesperson noted that the demand inflexion is driven by structural improvements in service operations, resulting in faster turnaround times and a significantly enhanced ownership experience. Rising customer confidence, they noted, is translating into stronger conversions across Ola Electric’s product portfolio, setting the stage for sustained growth.

Adding to the momentum, March also saw Ola Electric achieve a historic milestone—becoming the first EV brand in India to surpass 1 million cumulative registrations, according to VAHAN data. This landmark achievement not only underscores the company’s scale but also signals a defining moment for India’s rapidly evolving electric vehicle ecosystem.Also read: TCS shares fall 2% post Q4 show. What Nomura, 4 other brokerages are saying

On the technical front, according to Trendlyne data, the 14-day RSI stands at 75.9, indicating overbought conditions as readings above 70 typically signal stretched valuations. This suggests the stock may witness a pullback. However, Ola Electric remains above six of its eight simple moving averages (SMAs), trading below only the long-term 150-day and 200-day SMAs.

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