The stock market has been abuzz with news of Ola Electric’s share price soaring after its listing on Dalal Street last week. While the initial listing may have been flat, the stock has seen a surge in buying activity, propelling its price upwards. Ola Electric’s share price opened on a positive note today, reaching an intraday high of ₹129.40 on the NSE, marking a significant increase of around 70 percent from its listing price of ₹76.
Despite the retracement in price after some profit booking, stock market experts believe that Ola Electric shares still have room for growth. The stock continues to generate high trade volume, indicating that the downside is limited. Factors such as a positive outlook for the electric vehicle (EV) market and a favorable regulatory environment are seen as supporting the stock. Additionally, the company’s upcoming ‚Sankalp‘ program on Independence Day, known for major announcements, has piqued the interest of shareholders.
Arun Kejriwal, Founder of Kejriwal Research and Investment Services, advises shareholders to hold onto their Ola Electric shares, citing the stock’s ongoing momentum. He emphasizes the importance of monitoring the outcomes of the Sankalp program for potential growth opportunities. Parth Shah, a Research Analyst at StoxBox, hints at possible international market expansions for Ola Electric, highlighting regions with high demand for Indian 2W exporters.
Looking ahead, the outlook for Ola Electric’s share price remains positive, according to experts. The company’s plans to enter new markets, introduce new models, and establish a Gigafactory for cell manufacturing are seen as promising developments. StoxBox recommends holding onto shares from a medium to long-term perspective, anticipating further growth in the company’s value.
In terms of price targets, Sumeet Bagadia, Executive Director at Choice Broking, suggests maintaining a stop loss at ₹90 per share for existing shareholders. He advises those who missed out on the initial allotment to consider buying at current levels and adopting a buy-on-dips strategy. With a bounce back, Ola Electric’s share price could potentially reach ₹150, surpassing its recent high.
It is important to note that the views and recommendations provided by individual analysts or broking companies are not endorsed by Mint. Investors are advised to seek guidance from certified experts before making any investment decisions.
In conclusion, Ola Electric’s share price performance post-listing has been impressive, with potential for further growth driven by market dynamics and upcoming company announcements. Shareholders are encouraged to stay informed and vigilant to capitalize on future opportunities in the evolving electric vehicle sector.