(Bloomberg) -- The rapid rise in Ola Electric Mobility Ltd. shares is vindicating the founder’s push to list the company despite initial skepticism over...
-- The rapid rise in Ola Electric Mobility Ltd. shares is vindicating the founder’s push to list the company despite initial skepticism over valuation.The stock has surged nearly 90% in less than two weeks, bringing its market capitalization to over $7 billion. The company’s initial public offering was India’s biggest in two years and saw participation from across investor segments.
“There is a serious belief among investors in India’s electric vehicle story,” said Aishvarya Dadheech, chief investment officer at Mumbai-based Fident Asset Management Pvt. “The gush of domestic liquidity is driving investors to seek exposure to newer themes and investment ideas and the EV sector is one of the biggest beneficiaries.”Ola’s stellar debut also comes on the back of a rally in India’s other new technology businesses. Shares of food delivery firm Zomato Ltd.
Backed by SoftBank Group Corp. and Tiger Global Management LLC, Ola reported that losses widened to 15.9 billion rupees for the financial year ended March 2024. Ola shares fluctuated between gains and losses in early Wednesday trading.The Taliban have barred United Nations-appointed special rapporteur Richard Bennett from entering Afghanistan, the administration's spokesperson told local broadcaster Tolo, accusing the human rights watchdog of "spreading propaganda.
JUNEAU, Alaska — Democratic U.S. Rep. Mary Peltola on Tuesday advanced to November’s ranked choice general election for Alaska’s sole U.S. House seat, along with Republicans Nick Begich and Nancy Dahlstrom.As the French economy shows resilience with the CAC 40 Index advancing by 2.48%, investors are increasingly looking at dividend stocks as a reliable income source amidst fluctuating market conditions.
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