Ola Electric Mobility is having a surprisingly splendid day at the equity markets, as the company shares once again zoomed in the intraday trading on Wednesday, March 19.

Ola Shares Continues To Surge

The company shares zoomed by another 4.34 per cent or Rs 2.29 today (at the time of writing). The price now stands at Rs 55.06, its highest in close to 10 days.

Not just that, the company shares have rise by a cumulative of over 16 per cent in just the past two days of trading. Yesterday, Tuesday, March 18, the company shares further surged by a total of 12.44 per cent, marking a day of major gains.

This comes at a time when the company has been shrouded by controversies of different kinds and types. At first, the company showrooms were raided by authorities over violations of norms.

The company was accused of not having adequate papers to run its showrooms. This was followed by an insolvency plea against the company. Gurgoan-based Rosmerta Digital Services Ltd. filed a petition against the Bhavish Aggarwal-led company at the National Company Law Tribunal (NCLT), Bengaluru.

Registration Mismatch

In addition, the company's sales numbers have not been necessarily impressive, as it has faced stiff competition from rising and established competitors, including the likes of Bajaj, Ather and TVS.

In addition to all that, a recent report from Financial Express highlighted a gap or discrepancy in the company sales in the company sales number.

According to the report, the company, which claimed that it had sold 25,000 e-scooters in February, had only about 8,600 of them registered on the government's Vahan portal.

In addition, the company has also had to deal with questions over product quality and the company's post-purchase services, which has often arose in the public domain in the recent past.

Now, it remains to be seen, whether the company shares continue with the momentum in the time to come.