Ola Electric shares rise 3.94% after launching first dealer-led stores in seven states
Ola Electric stocks climbed nearly 4% following the activation of its initial network-partner retail outlets across major Indian states within a month of opening partnerships.
Shares of Ola Electric Mobility increased 3.94% during Friday trading, reaching an intraday high of Rs 38.95 on the National Stock Exchange of India (NSE). The company closed the day with shares at Rs 38.21, marking a 1.97% gain and a market capitalization of Rs 17,685.15 crore. This stock performance followed the official activation of the first cohort of dealer-operated stores. These outlets are now open across Rajasthan, Tamil Nadu, Maharashtra, Bihar, Telangana, Uttar Pradesh, and Madhya Pradesh. Ola Electric began opening its sales and service network to external dealer partners on August 6. The current rollout represents the launch of the first group of partner stores within one month of that initial announcement. These specific outlets serve as a shift from the company's earlier fully owned sales model. The new retail strategy aims to expand presence in key regional markets by catering to local demand for scooters and motorcycles.
