Shares of Ola Electric were skyrocketing on Friday after a jam-packed week for the electric two-wheeler maker.

What Happened: The Bengaluru-based company on Wednesday reported its financial results for the first time after being listed. The company's net loss widened by 30% to ₹347 crore for the April to June period while operating revenue jumped 32% year-on-year to ₹1,644 crore, the press release showed.

The company also unveiled its first range of electric motorcycles with the "Roadster" portfolio. The electric vehicle (EV) motorcycle range consists of three models: Roadster, Roadster X and Roadster Pro with a starting price of ₹74,999.

The reservations for the vehicles have already begun and will be delivered in the fourth quarter of FY25. The EV maker also teased two of its upcoming motorcycle models, Sportster and Arrowhead.

Ola Electric also showcased its first indigenously developed “Bharat 4680” cell and battery pack. The firm announced the integration of its cells with its EVs starting from Q1 FY26.

See Also: Mazagon Dock Shipbuilders Sees Order Book Contract To ₹36,839 Cr In Q1

Brokerage Views: HSBC initiated coverage of the stock with a "buy" recommendation and a target price of ₹140. The company is worth investing in given the sustainable regulatory environment in the country, its ability to reduce costs and a likelihood of high rewards compared to the risks in the battery venture, the brokerage noted.

However, the research firm also considered downside risks amid slower penetration of electric two-wheelers and battery plant issues.

Analyst View: Speaking about Ola Electric and the EV industry at large, Saji John, senior research analyst at Geojit Financial Services said the Indian electric two-wheeler industry is expected to grow by 11% annually, reaching a market size of ₹2.8 lakh crores to ₹3.6 lakh crores by FY28.

With a 38% market share and strong investment plans, Ola Electric could boost investor confidence and drive the growth of electric two-wheelers in India, he said. Despite short-term losses in FY24, the company is set to improve profitability in the long run through better scalability and vertical integration, he added.

Read Next: Garden Reach Shipbuilders Sees Orderbook Expand To ₹25,231 Cr In Q1