New Delhi, Oct. 27 -- Shares of Ola Electric surged on Tuesday, October 27, rising 16.3% to close at Rs.34.80 apiece. The rally marked the stock's biggest single-day gain since April.

Although there was no immediate fundamental trigger behind the rebound, a sharp spike in trading volumes helped the stock recover from its recent weakness. Around 345 million shares changed hands across the BSE and NSE during the session, nearly 3.2 times the stock's weekly average volume.

A broader rebound in auto stocks, along with better-than-expected performance by peer Ather Energy, also supported investor sentiment.

Despite Tuesday's recovery, Ola Electric shares remain down around 4% for the month. Earlier in October, the stock slipped to a five-mo...