Ola Electric Mobility Shares Jump 6% In Early Trade

On Thursday, after announcing the opening of more than 3000 new stores co-located with service centres, Ola shares jumped 6% in the early trade, making it India's largest EV expansion in one go.

Technically, support levels are seen between Rs 92-80, with potential resistance in the Rs 100-110 range.

"With the launch of 3,200+ new stores co-located with service facilities, the company is committed to driving large-scale EV adoption, enabling deeper penetration beyond tier-1 and tier-2 cities to almost every town and tehsil across India."

As a part of significant expansion, the company has also rolled out various offers, with benefits of up to Rs 25,000 on the S1 portfolio. Additionally, they have also introduced a new range of scooters, including the Ola Gig, Gig+, S1 Z and S1 Z+, starting at Rs. 39,000.

Furthermore, earlier this month, the Central Customer Protection Authority (CCPA) issued a showcause notice to the company, run by Bhavish Aggarwal, requesting additional papers and information about how it handles customer complaints.