Shares of Ola Electric Mobility Ltd. gained as much as 9% on Tuesday, December 3, marking the seventh day of gains out of the last eight trading sessions.

Tuesday’s intraday high of ₹101.4 is the first time after October 4 that the shares of Ola Electric Mobility have crossed the mark of ₹100 in intraday trading.

A block deal also took place in shares of Ola Electric earlier on Tuesday, where 0.4% of the company’s equity changed hands.

A total of 1.7 crore shares changed hands in the deal, taking the total transaction value to ₹164 crore. Shares changed hands at an average price of ₹95.

Ola Electric has 800 company-owned stores as of today, December 3. In 18 days from now, the Bhavish Aggarwal-led electric vehicles maker wants to expand the network by over four times and have 4,000 stores in India by December 20, 2024.

In October, Ola Electric had announced plans to take the store count to only 2,000 by March 2025. But in a fresh statement on December 2, the firm said the company is now “doubling down on the rollout plan” to accelerate the EV adoption in large hinterland markets, the mainstay of two-wheeler sales.

News also came in on Monday that founder and promoter Bhavish Aggarwal plans to pledge 1.1% of the company’s equity. As of September 30, Aggarwal had a 30.02% stake in Ola Electric.