Shares of Ola Electric Mobility have garnered significant attention during Tuesday’s trading session following buy ratings from two major global brokerages, Goldman Sachs and BofA Securities. The share price increased by more than 7% on the positive brokerage notes.

Goldman Sachs has also initiated coverage on Ola Electric, assigning it a 'buy' rating with a target price of ₹160 per share. This projection represents a potential 50% increase from the current stock price of ₹110 per share.

Ola Electric‘s share price has had a rollercoaster ride at the bourses ever since it listed in August. The stock still trades around 46% higher than its IPO issue price of ₹76. What Happened: An analysis of the stock’s daily trading data shows that the stock has closed in the red on most occasions since it was listed on August 9.

Shares of Ola Electric Mobility Ltd surged 10 per cent, reaching the upper circuit limit on Tuesday. The stock closed at INR 118.10 on the BSE and hit INR 118.36 on the NSE. Since its market debut in August,

Bank of America also joined the bullish bandwagon, setting a target price of ₹145, implying a 22% upside. BofA emphasizes Ola Electric’s technology and cost leadership, which positions it as a game-changer in transforming the two-wheeler segment in India to electric.

While Goldman has assigned a price target of Rs 160 per share of Ola Electric, BofA has a target price of Rs 145 per share

Ola Electric Mobility shares rose 6% to Rs 114.30 after Goldman Sachs and BofA set target prices of Rs 160 and Rs 145. Goldman sees 48% upside; BofA sees 34%.

Ola Electric after stellar gains are now trading in a range, nonetheless brokerages remain upbeat on the stock's prospects.