Ola Electric share price NSE jumps 19% after a flat debut. Should you buy, sell, or hold?
Ola Electric share price debuted on BSE and NSE at ₹76 per share, reaching an intraday high of ₹90.88 on the NSE within the first hour of trading.
Stock Market Update:
Ola Electric’s share price saw strong buying interest after a flat listing in Friday’s session on the Indian stock market. Initially listed at ₹76 per share on the BSE and NSE, Ola Electric shares quickly gained momentum, attracting significant interest from Dalal Street bulls. Within an hour of its debut, trading volume surged from 6 crore to over 34 crore shares. This buying spree pushed Ola Electric’s share price to an intraday high of ₹90.88 on the NSE, marking a gain of approximately 19.50% against the upper price band of its IPO price.
Stock market experts have noted the decisive surge in trading volume, indicating strong interest from institutional investors. They believe the rally in Ola Electric’s share price could continue, as institutional buyers are likely to hold onto their positions in the near term, limiting the stock’s downside. Experts recommend that shareholders hold onto Ola Electric shares for two to three years, as the stock has the potential to create significant wealth in one’s portfolio. They suggest maintaining a stop-loss at ₹75 for the scrip.
Stock Market News: Ola Electric Share Price Prediction
Discussing the outlook for Ola Electric share price, Prashanth Tapse, Senior VP — Research at Mehta Equities, stated, “Despite the demand falling short of expectations, Ola Electric share price today listed above street predictions due to the positive sentiment in the Indian market. However, the short-term outlook remains cautious due to weak financials and potential negative cash flows in the future. Investors who were allotted shares should carefully consider these risks before deciding to hold, as they may negatively impact the company’s consolidated financial condition post-listing. Given these factors, we recommend that only risk-taking investors continue to hold the stock with a minimum holding period of 2-3 years.”
Arun Kejriwal, Founder of Kejriwal Research and Investment Services, advised shareholders to maintain their positions in Ola Electric shares for the medium to long term. He noted, “At the time of Ola Electric share listing, the trading volume was around six crores, which quickly surged to over 34 crores within an hour. This indicates significant institutional buying, which suggests that the chances of a retracement in Ola Electric share price from higher levels are limited. Therefore, Ola Electric shareholders are advised to hold the stock, keeping a stop loss at ₹75.”
Key takeaways for investors include the potential for continued growth in Ola Electric share price NSE, despite short-term concerns, and the recommendation to hold the stock for a longer-term horizon. Ola Electric share price outlook remains cautiously optimistic, particularly for those willing to take on some risk. Stock market today is witnessing a robust interest in this newly listed stock, making it an interesting watch for those deciding whether to buy or sell.
On the suggestion to fresh investors, Arun Kejriwal said, “Fresh investors can start accumulating Ola Electric shares from current levels and keep on adding after every big dip in the newly listed share. They are also advised to maintain stop loss at ₹75 apiece.”
