Ola Electric Shares Rise Over 10% After Sharp Recovery From March Low

Ola Electric Mobility shares jumped 10.61% to ₹41.79 at 12:36 pm on 23 September on the National Stock Exchange (NSE), extending their third straight session of gains. The stock has rallied more than 86% in six months after hitting a record low in March.

Despite the recent move, the stock remains well below its lifetime high, while brokerages have maintained mixed but largely cautious views following the company’s Q1 FY27 results.

What Has Driven The Ola Electric Share Rally?

Ola Electric shares gained over 11% in 2026 so far, with analysts citing strong sales data, PLI incentives and other factors as contributors to the recovery.

The stock’s journey has been volatile since its August 2024 listing. After a flat debut, Ola Electric shares climbed to a lifetime high of ₹157.40 later that year. The rally then reversed, taking the stock to its lifetime low in March 2026.

The share price of Ola Electric has since recovered sharply from that level. It had touched a 52-week low of ₹22.25 in March, compared with its 52-week high of ₹59.20 recorded in September last year.

The company’s Q1 FY27 financial performance also remains part of the stock story. Ola Electric reported a net loss of ₹336 crore, compared with a net loss of ₹428 crore in the year-ago period. Revenue from operations, however, declined 45% year-on-year.

What Are The Key Technical Levels?

Technical indicators also remained positive on the one-day view. The technical summary showed a “Strong Buy” reading, with 17 buy signals, nine neutral signals and no sell signals.

Moving averages had 14 buy signals and one neutral signal, while oscillators showed three buy signals and eight neutral readings. The 14-day Relative Strength Index (RSI) stood at 62.96 and was marked as neutral, while the 20-day simple moving average was ₹38.32 with a “Buy” reading.

What Are Analysts Saying About Ola Electric Shares?

Brokerage views remain cautious following the Q1 FY27 results, with “Sell” and “Neutral” ratings on the stock.

Some brokerages maintained a “Sell” rating, with target prices ranging from ₹20–26. Improved cost control and the reversal of the Production Linked Incentive (PLI) penalty partly offset concerns over the company’s financial performance.

Another brokerage retained a “Neutral” rating with a target price of ₹40. It flagged cash burn as a concern, with free cash flow at negative ₹3.5 billion, and said no material cell revenue was expected in Q2.

Also Read - Vedanta Group Stocks Rally: Metal Prices, Easing Middle East Tensions Lift Sentiment