Ola Electric shares surge 10%; hit upper circuit limit

New Delhi: Shares of electric two-wheeler company Ola Electric Mobility Ltd jumped 10 per cent to hit the upper circuit limit on Tuesday.

The stock soared 9.71 per cent to settle at Rs 118.10 on the BSE. During the day, it surged 9.98 per cent to Rs 118.40 -- the upper circuit limit.

At the NSE, shares of the firm surged 10 per cent to hit the highest trading permissible limit for the day at Rs 118.36.

The company's market valuation stood at Rs 52,091.90 crore.

Shares of Bhavish Aggarwal-led Ola Electric Mobility Ltd made the market debut on August 9 this year.

The stock has so far zoomed 55.39 per cent from the issue price of Rs 76.

The Rs 6,145-crore initial public offering of Ola Electric Mobility received 4.27 times subscription last month.

The initial share sale had a price band of Rs 72-76 per share.

Ola Electric manufactures EVs and certain core EV components like battery packs, motors and vehicle frames at the Ola Futurefactory.