India's Ola Electric jumps after report of $400 million Tencent funding

Tencent Holdings

17/04/2026 07:30

** Shares of Ola Electric OLAE.NS rise as much as 8.5% to 42 rupees

** Chinese internet conglomerate Tencent 0700.HK has invested $400 million in OLAE, Economic Times reported, citing filings

** Singapore-based Copper Technology Pte Ltd will take a 9.57% stake in the EV maker, the report added, with sources confirming to ET that it is Tencent-owned

** Tencent, Ola did not immediately respond to Reuters requests for comment

** More than 240 million shares traded so far, almost 1.4x 30-day avg

** Average rating of 8 analysts on OLAE is "sell"; median PT 26 rupees - data compiled by LSEG

** YTD, OLAE up about 11%

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))