Ola Electric was soaring in the bourses on its second trading day on Monday.

What Happened: The company, which was listed on the Dalal Street on August 9, saw its share prices go up 20% for the second session in a row, extending its rally.

The shares of the Bengaluru-based firm saw a flat listing on bourses on Friday. On the NSE, the stock was listed at ₹76, against expectations of a discounted listing. On BSE, Ola Electric was listed at ₹75.99 and closed at ₹91.20 on the listing day.

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On Monday, the stock continued its upward trajectory, rising  to as much as ₹108 amid investor optimism. 

The subscription for the company's IPO was open from August 2 to August 6 and was earlier seen listing its shares at a discounted price of ₹73.

Ola Electric is also gearing up to launch its first electric motorcycle, set to be unveiled on August 15, Independence Day.

The company, which primarily manufactures electric two wheelers, had initially planned to launch an electric sports car by the end 2024 but that plan has now been reportedly stalled. Ola Electric has decided to suspend its electric car project and instead focus on its e-scooter business, A Reuters report said in July.

Price Action: Ola Electric was trading 18.96% higher at ₹108.49 on Monday morning.

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