Ola Electric shares jump over 12.50% after hitting new record low

New Delhi: Shares of Ola Electric Mobility Ltd soared 12.50 per cent after hitting a new record low earlier in the day on Tuesday.

The stock jumped 12.56 per cent to settle at Rs 52.80 on the BSE. Earlier in the day, it hit a record low of Rs 46.32. Shares of the firm rallied 15.86 per cent to Rs 54.35 during the day.

At the NSE, the stock surged 12.44 per cent to Rs 52.77.

The company's market valuation climbed Rs 2,597.98 crore to Rs 23,289.18 crore following a rebound in the stock.

Shares of Ola Electric Mobility Ltd ended over 7 per cent lower on Monday after the firm said its vehicle registration service provider Rosmerta Digital Services Ltd has sought the initiation of insolvency proceedings against its wholly-owned arm Ola Electric Technologies Pvt Ltd.