Shares of Ola Electric Mobility Ltd surged 5% to touch a day’s high of Rs 43.57 on 14th July.

Meanwhile, the Maharashtra State Transport Department has flagged concerns over the company’s operations in the state, stating that around 350 outlets are running without proper licences or permissions.

The Maharashtra State Transport Commissioner said the department received multiple complaints about around 350 Ola Electric stores operating without proper licences or permissions in the state.

Action has already been taken against some outlets, and Ola has been asked to apply for the required approvals to continue operating.

Authorities have made it clear that these stores can only resume operations once all necessary licences are obtained. A formal report and response from Ola Electric is expected by the end of the day.

At 11:54 AM, the shares of Ola Electric were trading 3.07% higher at Rs 41.02 on NSE.

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