Shares of Ola Electric Mobility continued their upward trend on Thursday, even as benchmark indices Sensex and Nifty tumbled in early trade amid concerns of a potential ceasefire breach. The 30-share BSE Sensex dropped 243.57 points to 77,319.33 in opening trade, while the 50-share NSE Nifty shed 88.3 points to 23,909.05. Despite this weakness, shares of Ola Electric opened the trading session in the green at Rs 30.49, up from the previous close of Rs 30.29 on the BSE. The stock gained further to touch an intraday high of Rs 35.36, a gain of 16.44 per cent from the closing price of the last trading session. Last seen, the scrip held firmly in green at Rs 34.79 with a gain of 14.86 per cent and the market cap of the company stood at Rs 15,402.62 crore.
The stock has outperformed the sector by 13.56 per cent and has been gaining for the last two days, and has risen 19.68 per cent in the period. However, it has been highly volatile today with an intraday volatility of 8.76 per cent.
What's behind the rally?
The stock is in action as the company has announced the readiness of its in-house developed lithium iron phosphate (LFP) cell, marking a key milestone in its mission to accelerate electric mobility and build a full-stack energy ecosystem.
The new '46100' format LFP cell is bigger than the current NMC 4680 Bharat Cell and represents a step-change in scale, cost efficiency, and applicability across both mobility and energy storage solutions. According to the company, it will begin entering its products starting next quarter.
Relative strength index
Technically, the stock trades higher than the 5-day, 20-day, 50-day and 100-day moving averages but lower than the 200-day moving averages.
The stock's 14-day relative strength index (RSI) is 64.95. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
The stock has a 52-week high of Rs 71.24 and a 52-week low of Rs 21.21
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
