New Delhi, April 8 -- OLA Electric has witnessed a sharp surge in demand for its shares in recent sessions, as the stock continues to rise, recouping some of its recent losses and offering much-needed relief to shareholders.

The shares were locked in the 5% upper circuit in Wednesday's session, settling above the Rs.30 mark for the first time in nearly two months at Rs.30.27 apiece. With today's rally, the stock's month-to-date gains have surged to over 33%, signalling a turnaround in investor confidence.

In recent months, the stock had witnessed a sustained sell-off, falling from Rs.57 to Rs.22.80 in just six months. During this period, it also hit a record low of Rs.22.25 apiece, raising concerns about a potential recovery.

The decli...