Ola Electric shares locked in 20% upper circuit on new Gig, S1 Z range of scooters; Citi gives ‘buy’ rating

The new Gig range is designed specifically for gig workers, offering two variants — ‘Gig’ and ‘Gig+’ — priced at Rs 39,999 and Rs 49,999 (ex-showroom), respectively.

Ola Electric shares rallied as much as 20 percent to hit an upper circuit of Rs 88.10 in afternoon trade on November 27 after the company unveiled its most affordable electric scooters yet — the S1 Z and Gig range — with prices starting at Rs 39,000.

CEO Bhavish Aggarwal announced the launch on X (formerly Twitter), highlighting the scooters’ unique feature: a portable battery that doubles as a home inverter when paired with the Ola PowerPod. “Say hello to the Ola S1 Z & Gig range, starting at just Rs 39K! Affordable, accessible, and now with a portable battery pack,” Aggarwal said.

Reservations for the new models are already open, with deliveries slated to begin in April 2025. The new Gig range is designed specifically for gig workers, offering two variants — ‘Gig’ and ‘Gig+’ — priced at Rs 39,999 and Rs 49,999 (ex-showroom), respectively. These scooters will be available for both business-to-business (B2B) purchases and rental services, the company said in a statement.

ACME Solar shares drop 7.5% as net profit takes a dive in Q2

The monetisation of operational assets in the second half of FY24 created a high base for ACME Solar Holdings, triggering a fall in profit and revenue in Q2 FY25.

Shares of ACME Solar Holdings took a hit on November 26 after plunging as much as 7.5 percent on the back of a sharp decline in the company’s Q2 net profit. At 11.52 am, shares of ACME Solar were trading at Rs 250.45 on the NSE

Consolidated net profit for the July-September period dropped 60 percent on year to Rs 15.29 crore, a sharp downturn from the Rs 38.63 crore it reported in the same quarter last fiscal. The drag in net profit was mainly on account of lower revenue after the company monetised 369 MW of operational assets in the second half of the previous fiscal. These assets had contributed Rs 169 crore in revenue the first half of FY24, leading to a high base of the previous fiscal.

On that account, revenue from operations fell over 17 percent year-on-year to Rs 295.14 crore as compared to Rs 356.95 crore in the year-ago period.  EBITDA margin for the quarter also moderated marginally on year to 3.7 percent on account of an increase in manpower expenses and its allocation towards a lower asset base due to asset monetisation.

Ola Electric shares locked in 20% upper circuit on new Gig, S1 Z range of scooters; Citi gives ‘buy’ rating

The new Gig range is designed specifically for gig workers, offering two variants — ‘Gig’ and ‘Gig+’ — priced at Rs 39,999 and Rs 49,999 (ex-showroom), respectively.

Ola Electric shares rallied as much as 20 percent to hit an upper circuit of Rs 88.10 in afternoon trade on November 27 after the company unveiled its most affordable electric scooters yet — the S1 Z and Gig range — with prices starting at Rs 39,000.

CEO Bhavish Aggarwal announced the launch on X (formerly Twitter), highlighting the scooters’ unique feature: a portable battery that doubles as a home inverter when paired with the Ola PowerPod. “Say hello to the Ola S1 Z & Gig range, starting at just Rs 39K! Affordable, accessible, and now with a portable battery pack,” Aggarwal said.

Reservations for the new models are already open, with deliveries slated to begin in April 2025. The new Gig range is designed specifically for gig workers, offering two variants — ‘Gig’ and ‘Gig+’ — priced at Rs 39,999 and Rs 49,999 (ex-showroom), respectively. These scooters will be available for both business-to-business (B2B) purchases and rental services, the company said in a statement.