Shares of\u00a0Ola Electric Mobility Ltd. gained as much as 6% on Thursday, December 26, after the company announced the expansion of its store count to 4,000.<\/p>\n\n\n\n
The company added more than 3,200 new stores co-located with service centres and this expansion spans beyond metros and tier-1 and tier-2 cities.<\/p>\n\n\n\n
Ola Electric\u00a0has also opened priority registrations for the MoveOS 5 beta version, whose features include group navigation, live location sharing and road trip mode, which will be powered by Ola Maps.<\/p>\n\n\n\n
In addition to this, the company also launched a limited-edition Ola S1 Pro Sona, which has real 24-karat gold plated elements.<\/p>\n\n\n\n
In a note on November 27, brokerage firm Citi had said that Ola Electric’s soon-to-be launched motorcycles and electric three-wheelers will boost volumes.<\/p>\n\n\n\n
While the service perception has been negative offlate, Citi said that it will subside going forward.<\/p>\n\n\n\n
Citi had issued a “buy” rating on Ola Electric with a price target of \u20b990. The stock now trades above that price.<\/p>\n\n\n\n
Out of the seven analysts that have coverage on Ola Electric, five of them have a “buy” rating, while the other two have a “sell.”<\/p>\n\n\n\n
Shares of Ola Electric Mobility are off opening highs, currently trading 4% higher at \u20b997.71. The stock is up 34% in the last one month.<\/p>\n\n\n\n
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