Shares in Indian e-scooter maker Ola jump 10% after tepid debut

BENGALURU -- Shares in Indian scooter maker Ola Electric Mobility rose 10% after its tepid market debut on Friday, underscoring investor optimism that the Softbank-backed startup will turn profitable on the road ahead.

The South Asian nation's first electric vehicle stock opened flat at 76 and was trading at 83 10:10 a.m. local time on Friday. That compared to an issuance price of 76 rupees, which was a 22% discount to the valuation in the high-profile company's last round of private funding. The oversubscribed initial public offering had valued Ola at $4.3 billion.