OLA Electric Mobility’s share price recovers over 15% from intra-day low levels on aggressive store expansion in a month. In a post on the platform X.com (Bhavish Aggarwal, Founder and CEO of OLA Electric said that the company will open 4000 stores in a month.
“Taking the Electric revolution to the next level this month. Going from 800 stores right now to 4000 stores this month itself. Goal to be as close to our customers as possible. All stores opening together on 20th Dec across India. Probably the biggest single-day store opening ever!” posted Bhavish Aggarwal on platform X. “All stores have service capacity too,” he added.
Taking the Electric revolution to the next level this month.
Going from 800 stores right now to 4000 stores this month itself. Goal to be as close to our customers as possible.
All stores opening together on 20th Dec across India. Probably the biggest single day store opening…
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OLA Electric Mobility in Q2
The company reported a net loss of Rs 495 crore, which was slightly lower compared to the loss of Rs 524 crore posted in the same quarter last year. The company had reported a loss of Rs 347 crore in Q1 FY25. The revenue for the period rose by 39.1% on year to Rs 1,214 crore, compared to Rs 873 crore in the year-ago quarter.
OLA Electric Vs Nifty 50
The stock of the newly listed electric mobility company has risen 31% in the last five trading sessions. It has given a return of over 15% in the last one month and almost 3.4% from the listing price. Although the stock of OLA Electric is down over 40% from its recent peak.
To compare, the benchmark index, Nifty 50, has risen 0.74% in the last five trading days. However, the index has given a return of 0.55% in the last one month and 3.7% in the past six months.
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