Ola Electric shares experienced a surge of more than 6% after CEO Bhavish Aggarwal made a significant announcement about the company's expansion plans.

Aggarwal revealed that on December 20, the number of Ola Electric stores in India will increase dramatically from 800 to 4,000. He described this as "probably the biggest single day store opening ever" and emphasized the company's commitment to improving customer accessibility. Aggarwal also stated that all new stores will have service capabilities.

As a result of this announcement, the company's stock made a sharp recovery, bouncing back from its lowest point of the day and trading positively.