Ola Electric share price jumps over 3% as April registrations climb 20% MoM

Ola Electric Mobility shares rose over 3% on Monday, 4 May, after the company reported strong month-on-month growth for April 2026.

According to VAHAN data, registrations increased to 12,166 units in April from 10,133 units in March, indicating a steady pickup in demand.

This indicates a 20% increase month-on-month, continuing the recovery trend observed in March, according to a statement from Ola Electric.

The company's results were notable in a month when the general electric two-wheeler market declined by more than 22% month-on-month, it mentioned.

Ola Electric was the sole major EV two-wheeler brand to register growth month-on-month in April, demonstrating enhanced consumer confidence, stabilising operations, and sustained demand for its growing EV lineup, the company stated.

Ola Electric Mobility announced in an exchange filing on Friday that its performance in April was notable compared to a struggling industry, as the overall electric two-wheeler sector fell by more than 22% month-on-month. The company noted that it was the sole major player in the EV two-wheeler market to experience growth during the month, underscoring increasing customer confidence, operational stabilisation, and ongoing demand for its expanding product range.

Following a robust recovery in March, Ola Electric reported that April maintained the positive trend, with a 20% month-on-month increase in registrations despite a significant industry downturn. The company credited this success to enhanced execution and stable operations. It also noted that the commercial launch of its locally developed 4680 Bharat Cells has led to improved cost efficiencies, with these advantages being passed on to consumers. Ola emphasised its commitment to sustaining this growth and promoting the adoption of electric vehicles in India.

The rise in registrations coincides with persistently high crude oil prices, currently around $111.57 per barrel, up $1.17, or 1.06%, from the previous close.

Ola Electric share price today

Ola Electric share price today opened at ₹37.28 per share on the BSE, touched an intraday high of ₹37.80 per share, and an intraday low of ₹37.01 per share.

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, the stock opened on a positive note but lacked follow-up buying.

He noted that the stock was in focus throughout April, rallying sharply from around ₹22 to the current ₹37 levels. The price has moved above the 20-day EMA and appears to be forming a base near ₹34. As long as this level holds, further upside traction cannot be ruled out.

On the flip side, the 200-day SMA and the recent high around ₹42 are seen as immediate resistance levels.

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