Ola Electric and Ather Energy shares saw a significant rally in Thursday's trading session amid stock market rally. Ola Electric share price gained as much as 7.5%, touching an intraday high of ₹40.51 per share on NSE. Meanwhile, Ather Energy share price rallied nearly over 4% to ₹1,648.60 on 10 September.
Meanwhile, Indian benchmark indices opened higher on Thursday. The BSE Sensex was trading at 74,832.29, gaining 68.06 points, or 0.09%. Meanwhile, the broader NSE Nifty 50 stood at 23,446.60, up 15.10 points, or 0.06%.
Ola Electric share price gained momentum as investors stepped in for value buying following a three-session decline in the stock.
As many as 6.87 crore shares were traded during the session, with the total traded value standing at ₹270 crore, according to NSE data. The stock had dropped more than 2% over the previous three trading sessions.
The buying interest comes days after Ola Electric announced the launch of its first batch of dealer-led stores, just a month after opening its sales and service network to partners. The company said its initial network-partner stores had commenced operations across Rajasthan, Tamil Nadu, Maharashtra, Bihar, Telangana, Uttar Pradesh and Madhya Pradesh.