OLAELEC.NS up 12.83% to INR 40.89 on 02 Jan 2026: Market closed, most active
OLAELEC.NS jumped 12.83% to INR 40.89 on 02 Jan 2026 as NSE trading closed, finishing the session as one of the market’s most active names. Ola Electric Mobility Limited (OLAELEC.NS) saw unusually high turnover of 285,205,567 shares versus an average of 37,703,896, driving a sharp intraday range of INR 37.72 to INR 41.20. In this market-closed review we break down the volume-driven move, valuation metrics, technical setup and short-term forecasts to frame trading and investment implications for Indian investors.
Price action and volume snapshot
OLAELEC.NS closed at INR 40.89 on 02 Jan 2026, up INR 4.65 or 12.83% from the previous close of INR 36.24. The stock traded between INR 37.72 and INR 41.20 with reported volume of 285,205,567 shares, roughly 7.56 times the daily average volume of 37,703,896. High relative turnover confirms the ‘most active’ tag on NSE and suggests short-term investor attention is driving the move rather than fundamental news.
Fundamentals and valuation
Ola Electric Mobility Limited (OLAELEC.NS) shows trailing EPS of -5.24 and a negative PE of -7.16, reflecting losses at scale. Key valuation ratios: price-to-sales 4.96, price-to-book 3.61 and enterprise value-to-sales 5.02. Cash per share is INR 7.00 and book value per share is INR 10.39, while market cap stands at INR 157,430,395,446. The company carries debt-to-equity of 0.72 and a current ratio of 1.73, indicating moderate liquidity despite negative profitability.
Technical indicators and trend read
Technicals show a mixed short-term picture: RSI at 45.33 and MACD histogram positive at 0.68, while ADX at 40.10 points to a strong trend. The 50-day average is INR 41.19 and the 200-day average is INR 47.47; the current price sits below the 200-day average, signaling longer-term weakness. Volatility measures such as ATR at 2.01 INR and Bollinger middle band at INR 35.29 confirm elevated intraday movement.
Sector context and peer comparison
Ola Electric sits in the Consumer Cyclical sector (Auto – Manufacturers) on NSE in India. The sector’s average price-to-book is about 3.74 and average PE around 37.18; OLAELEC.NS’s PB of 3.61 is slightly below sector PB but PE is negative, reflecting lack of earnings. Sector trends show moderate 3-month gains; investors should weigh EV adoption tailwinds against capital intensity and competitive pressure from established OEMs and newer EV entrants.
Meyka AI grade and model forecast
Meyka AI rates OLAELEC.NS with a score out of 100: Score 55.09 | Grade C+ | Suggestion: HOLD. This grade factors in S&P 500 benchmark comparison, sector performance, financial growth, key metrics, and analyst consensus. Meyka AI’s forecast model projects a monthly target of INR 10.76, a quarterly target of INR 4.30 and a 1-year projection of INR 34.76 versus the current INR 40.89, implying an expected downside of -14.99%. Forecasts are model-based projections and not guarantees.
Risks, catalysts and trading view
Primary risks include continued negative earnings, margin pressure and model execution at scale; EPS is negative INR 5.24 and operating margin remains below breakeven. Catalysts to watch are upcoming earnings (earnings announcement scheduled 06 Feb 2026), any improvements in gross margin or cash flow, and policy or incentive changes for EVs in India. For active traders the volume spike and ADX suggest momentum trades; for investors the model indicates limited near-term upside versus current price.
Final Thoughts
OLAELEC.NS closed the 02 Jan 2026 NSE session as a most-active stock after a 12.83% intraday gain to INR 40.89 on very heavy volume. The move reflects short-term trader interest rather than a clear fundamental inflection: trailing EPS is -5.24 and PE remains negative at -7.16, while price-to-sales of 4.96 and price-to-book of 3.61 show investors still valuing growth potential. Meyka AI’s model projects a 1-year figure of INR 34.76, which implies a -14.99% downside versus the current market price; this model also gives a C+ grade and a HOLD suggestion based on a 55.09 score. Technicals point to a strong short-term trend but the price remains under the 200-day average of INR 47.47, underscoring longer-term caution. Key near-term datapoints to monitor are the 06 Feb 2026 earnings release, any margin or cash-flow improvement, and sustained volume above the average 37,703,896 daily shares. For traders, the spike in turnover opens intraday momentum setups; for long-term investors, the combination of negative earnings and model downside argues for patience until fundamentals improve. Meyka AI — our AI-powered market analysis platform — will track updates and re-run forecasts after the next earnings readout.
FAQs
The jump reflected heavy trading interest with 285,205,567 shares changing hands, about 7.56x the average. No single confirmed fundamental catalyst was reported; the move appears volume-driven and sentiment-led ahead of upcoming earnings on 06 Feb 2026.
Meyka AI’s model lists a monthly projection of INR 10.76, a quarterly target of INR 4.30 and a 1-year projection of INR 34.76 versus the current INR 40.89. These are model-based projections and not guarantees.
OLAELEC.NS has a price-to-book of 3.61, close to the Consumer Cyclical sector PB of 3.74, but a negative PE versus the sector average PE of about 37.18, reflecting current losses and a valuation gap against profit-making peers.
Active traders can use the volume spike and technical trend for momentum strategies but should manage risk given negative earnings and volatility. Long-term investors should await clearer earnings improvements and cash-flow signs.
Disclaimer:
Stock markets involve risks. This content is for informational purposes only. Past performance does not guarantee future results. Meyka AI PTY LTD provides market analysis and data insights, not financial advice. Always conduct your own research and consider consulting a licensed financial advisor.
