Ola Electric’s stock went up by 6% in early trading after the company clarified a misunderstanding about its sales and registration numbers for February.

The company’s shares increased by 6.17% to Rs 54.85 on the Bombay Stock Exchange (BSE) at 9:58 am.

Why Was There Confusion?

Ola Electric explained that the gap between its sales and vehicle registrations in February happened due to a temporary delay caused by ongoing talks with its vendors. The company denied rumors about a problem with its sales data.

“Our sales are strong. The delay in February was because we were negotiating with vendors who handle vehicle registrations. This backlog is being cleared quickly, with daily registrations now exceeding 50% of our three-month daily sales average,” Ola Electric said in a statement.

Read More: India’s Ola Electric falls 2% on report govt probing sales registration discrepancies

So far, 40% of the delayed registrations have been completed, and the company expects to clear the rest by the end of March 2025.

Misinformation and Vendor Changes

Ola Electric also said that some media outlets and certain groups are spreading false information about the issue.

“This is simply a temporary backlog in registration, but some people are trying to twist the story and make it seem like a bigger issue,” the company said.

Ola Electric mentioned that the situation worsened after it ended contracts with two vendors managing its registration process. This was part of a plan to improve efficiency and increase profits. Since then, the company believes there has been a coordinated effort to spread confusion and cause unnecessary concern.

Also Read: Government Questions Ola Electric Over ‘Missing’ 16,400 Vehicle Registrations

Stock Performance

Ola Electric’s stock has been highly unpredictable in recent months. While it has gained over 12% in the last five trading sessions, it is still down 10% in the past month. In the last six months, the stock has dropped 50%, and overall, it has fallen by 36% in 2025.