Ola Electric, Adani Green, GMR Power, 384 more stocks hit upper limit today

Paras Defence, Ravindra Energy, Zaggle Prepaid Ocean Services, Oriental Rail Infrastructure, Puravankara and Veritas (India) from the BSE Smallcap index have locked in upper circuit.

Shares of Ola Electric Mobility, Vodafone Idea, Adani Total Gas, Adani Green Energy, Adani Energy Solutions, Cochin Shipyard, GMR Power & Urban Infra and 381 other stocks were locked at their respective upper circuits on the BSE in Wednesday’s trade.

 

Paras Defence and Space Technologies, Ravindra Energy, Zaggle Prepaid Ocean Services, Oriental Rail Infrastructure, Puravankara and Veritas (India) from the BSE Smallcap index were locked at the upper limit, the BSE data showed.

 

At 03:21 pm; shares of four Adani Group companies, Adani Power (20 per cent at Rs 525.30), Adani Total Gas (20 per cent at Rs 695.60), Adani Green Energy (10 per cent at Rs 989.30), and Adani Energy Solutions (10 per cent at Rs 661.25) were locked at the 20 per cent upper circuit after the group company Adani Green Energy today clarified on allegations against Gautam Adani, Sagar Adani, and senior executive Vneet Jaain, stating that the charges under the US Foreign Corrupt Practices Act (FCPA) by the US Department of Justice (DoJ) were “incorrect.” However, the company acknowledged that the executives face three other charges, including securities and wire fraud, in the indictment.

 

 

Meanwhile, senior advocate and former attorney general Mukul Rohatgi stated on November 27 that neither Gautam Adani nor his nephew were accused of violating the US Foreign Corrupt Practices Act (FCPA) in the indictment filed by US prosecutors in a bribery case.

 

Addressing the media, Rohatgi clarified that while the indictment refers to allegations of Adanis bribing Indian entities to secure solar power contracts, it does not specify the method of bribery or the individuals involved. CLICK HERE FOR FULL REPORT

 

Shares of Ola Electric Mobility were locked in the 20 per cent upper circuit at Rs 88.16 on back of over eight-fold jump in average trading volumes. A combined 271.6 million shares changed hands and there were pending buy orders for 7.5 million shares on the NSE and BSE.

 

The buying in Ola Electric came after the company launched its Gig and S1 Z range of scooters. The company, India’s largest pure-play electric vehicle (EV) company, today announced the launch of its Gig and S1 Z range of scooters, designed to unlock the full potential of electric mobility for the masses. 

 

The new range of scooters comprises Ola Gig, Ola Gig+, Ola S1 Z, and Ola S1 Z+ available at an introductory pricing of Rs 39,999 (ex-showroom), Rs 49,999 (ex-showroom), Rs 59,999 (ex-showroom), and Rs 64,999 (ex-showroom), respectively. The reservations for both the Gig and S1 Z series are open at Rs 499, the company said. The new range of scooters offers durable, reliable, affordable, and flexible solutions, including removable batteries, fulfilling personal and commercial use cases of rural, semi-urban, and urban customers, it added.

 

With the new range of products, coupled with the existing portfolio, Ola Electric aims to further revolutionise access to EVs with a wide range of affordable offerings across categories, catering to a broad spectrum of customers, thereby democratising electric mobility for all. Deliveries of the Ola Gig and Ola S1 Z series will begin starting April 2025, and May 2025, respectively, the company said in press release.

 

Share of Vodafone Idea surged 13 per cent to Rs 8.50, extending its previous days’ 8 per cent gain on reports that the Union Cabinet approved a proposal to waive the bank guarantees required to be provided by telecom operators for spectrum purchased in auctions conducted by Department of Telecommunications (DoT) up to 2022.

 

Vodafone Idea in an exchange filing said the company vide its letter dated 8 October 2024 informing the exchanges that it had made detailed representations to the DoT for removal of the bank guarantee requirements for spectrum acquired before 2022 which is also an Industry ask.

 

Vodafone Idea further said the company has yet has not received any communication from DoT / Government of India about any decision taken nor is there any press release available on its website.

 

As and when a decision is communicated by the DoT or any decision of Government of India through a press release is available, the company will make the necessary disclosures as required, the company said.