Ola Electric Share Price Skyrockets After Delhi Announces New EV Policy

Ola Electric Mobility’s share price surged up to 11% on the back of news of Delhi’s Landmark EV Policy 2.0

Ola Electric Mobility’s stock surged in the Indian stock market on Tuesday, June 30, 2026. The stock price jumped more than 11% to an intraday high of ₹44.83 on the Bombay Stock Exchange. This sharp gain represents a significant single-day gain for the electric vehicle manufacturer.

The stock’s sudden surge came after the Delhi government officially approved the long-awaited Electric Vehicle Policy 2.0. This new regional policy, which will come into effect on July 1, 2026, will provide significant financial support to the local clean energy sector. It is a key component of the city’s green transport transition.

The newly approved policy includes a massive budget of ₹15,000 crore to promote the adoption of all-electric vehicles. This framework offers attractive consumer incentives, including significant subsidies and tax breaks. This includes a special scrapping incentive of ₹1 lakh to encourage drivers to replace older vehicles with electric models.

Through these aggressive financial measures, authorities aim to ensure that electric vehicles account for 95% of all new vehicle registrations by 2027. This lofty target has generated a wave of optimism across the entire clean energy manufacturing industry, with market leaders benefiting the most.

Market data shows that investor interest in Ola Electric reached a high level during Tuesday’s trading session. The company’s daily trading volume increased by nearly 158 times its previous 30-day average. This high volume reflects a massive rush by both institutional participants and everyday retail investors to capitalize on the news.

With today’s strong market performance, Ola Electric shares have extended their year-to-date gains to over 17% in 2026. Despite this positive movement, the stock is still approximately 1.6% lower than its position 12 months ago. Over the past year, the shares fluctuated between a low of ₹22.25 and a high of ₹71.25.

The larger electric vehicle sector also reacted positively to Delhi’s policy update. Competitor Ather Energy’s share price rose 3.81% to ₹1,118.55. JBM Auto also gained nearly 2%. However, Tata Motors Passenger Vehicles bucked the trend, experiencing a slight decline during the same market session.

This regulatory boost comes after Ola Electric achieved another major financial milestone earlier this month. On June 4, 2026, the company successfully completed a large fundraising campaign through a qualified institutional placement. This initiative raised a total of ₹780 crore after receiving an overwhelming response from renowned global and domestic institutional buyers.

The fundraise recorded a strong oversubscription rate of 56%, reflecting strong institutional confidence. Ola Electric issued 21.76 crore new equity shares at a final price of ₹35.86 per share. This fixed price represents a 4.98% discount to the initial floor price of ₹37.74 set by the Board.

High-profile international companies such as Goldman Sachs and BNP Climate Fund participated in the placement. Major domestic asset management companies such as Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, and Mirae Asset Mutual Fund also purchased shares. This diverse support provides the electric vehicle company with strong financial stability for its upcoming projects.

The company plans to use these new funds to repay its existing institutional debt and term loans. Additionally, the capital will support the ongoing expansion of its core infrastructure, including expanding operations at its Futurefactory and Gigafactory, accelerating research and development, and building more retail stores and service hubs across India.