Ola Electric Mobility shares climbed 16.23% to ₹34.80 on the National Stock Exchange of India (NSE) on Oct. 27, with heavy turnover marking a sharp rebound despite a Goldman Sachs downgrade.
Moneycontrol’s exchange quote feed showed 332,028,207 shares traded on the NSE and 13,828,542 on the BSE, for about 345.9 million shares combined, at 3:59 p.m. IST (10:29 a.m. UTC). The NSE quote was up ₹4.86, while the BSE price stood at ₹34.95, a gain of 16.77%.
LiveMint reported that the rise was the stock’s biggest one-day gain since April and that trading volume was nearly 10 times its weekly average. The outlet pointed to firmer sentiment in auto shares and Ather Energy’s results, while reporting no immediate company-specific news to explain the move.
Ather Energy’s exchange filing showed vehicle volume increased 42% from a year earlier to 93,211 units in the quarter ended Sept. 30, 2026. The company reported consolidated profit after tax of ₹1.26 crore, compared with a loss of ₹154 crore in the same quarter a year earlier. The results provide sector context but do not establish what prompted investors to buy Ola shares.
Reuters reported that Goldman Sachs lowered its rating on Ola to Sell from Neutral and cut its price target to ₹23 from ₹39.28. The bank cited capital spending and interest costs, as well as expectations of a longer period of operating losses.
Ola’s audited FY26 financial statements reported revenue from operations of ₹2,253 crore. Its prospectus reported ₹5,009.83 crore for FY24; comparing the figures implies a decline of about 55% over the period.
Ola’s rights issue covers 370.27 million partly paid-up shares at ₹27 each and seeks up to ₹999.74 crore. Eligible shareholders could claim two rights shares for every 25 fully paid shares held on Oct. 13. The offer is scheduled to close Oct. 30; EconoTimes previously covered investor applications for rights entitlements.
