Ola Electric Mobility Limited shares have recently made a strong entry and are now climbing rapidly. On Tuesday, the company’s shares jumped 18.82% to a record high of Rs 130. However, later it came down a bit and is currently trading at Rs 113.79 with a gain of 4%.

Seeing this recent rise, investors are a bit confused whether to book profits or hold it for a long time. Let’s see what the experts have to say.

Ola Electric’s blast after a great start!

Last week on Friday, Ola Electric’s debut in the stock market was not good, but since then it has been like a rocket. The company had raised about Rs 6,145.56 crore from its IPO and now the share price has increased by 49.72% from the IPO price of Rs 76 to Rs 113.79. Experts’ advice: Take advantage or stay in the race for the long haul?

Long-term planning:

If you believe in the future of Ola Electric and are looking at it as a long-term investment, you may want to retain your investment rather than book profits now. The market for electric vehicles is growing rapidly, and Ola Electric is emerging as a major player in this sector.

Some analysts believe that investors who came for listing gains can book profits now. On the other hand, those who are investing for the long term can hold the stock.

  • Kranti Bathini, Director of Equity Strategy, Wealthmills Securities says, “Ola Electric is growing rapidly. Investors who came for listing gains can book profits now. But those who invest for the long term should hold the stock.”
  • Ravi Singh, Senior Vice-President (Retail Research), Religare Broking says, “Technically, the first resistance is at Rs 130 and only a strong closing will lead to further growth. At the same time, support can be found at Rs 114. Investors can book some profits now if they want.”

Is Ola Electric a good bet for the long term?

  • Mahesh M Ojha, AVP – Research & Business Development, Hansex Securities believes, “Ola Electric is the largest seller of electric two-wheelers in India in FY24, but it is still in the investment phase.” Ojha further adds, “We think Ola Electric can be a good option for investors who want to invest in the electric vehicle sector. It can be held for two to three years.”
  • Final Verdict: Ola Electric shares may have risen, but before taking any investment decision, do your own research and keep in mind your risk appetite.