Ola Electric Mobility Ltd. shares rose for the second consecutive session on Tuesday as markets digested poor headline quarterly results and focused on the growth trajectory.
While the company has shown significant improvement in gross margins and profitability, concerns about volume growth and market share persist.
Goldman Sachs raised its 12-month price target for Ola Electric to Rs 63, citing sequential improvement in volume and gross margin expectations. "We acknowledge management's efforts in trying to pivot the business towards positive Ebitda and FCF breakeven," the firm noted.
Kotak Securities also noted that the company has improved its profitability "significantly." Volume offtake remains below expectations given muted industry growth and increased competitive intensity, which remains an area of concern.
Ola Electric Mobility Q1 FY26 Highlights (Consolidated, YoY)
Revenue down 49.6% to Rs 828 crore versus Rs 1,644 crore (Bloomberg estimate: Rs 735 crore).
Ebitda loss at Rs 237 crore versus Rs 205 crore (Bloomberg estimate: Rs 287 crore).
Net loss widens to Rs 428 crore versus Rs 347 crore (Bloomberg estimate: Rs 452 crore).
Ola Electric Stock Data
Ola Electric shares rose as much as 3.9% intraday to Rs 48.9 apiece on the NSE, before giving up gains by 10:00 a.m.
Ola Electric shares rose as much as 3.9% intraday to Rs 48.9 apiece on the NSE, before giving up gains by 10:00 a.m.
Ola Electric shares rose as much as 3.9% intraday to Rs 48.9 apiece on the NSE, before giving up gains by 10:00 a.m. The scrip hit a 20% upper circuit in the previous session after the results came during market hours. The stock is still down 48% since its listing in August 2024.
The total traded volume so far in the day stood at 12 times its 30-day average. The relative strength index was at 56. The turnover of the traded equity was Rs 939.45 crore as per NSE data.
Of the eight analysts tracking Ola Electric, three each place a 'buy' and 'sell' rating on the stock and two recommend a 'hold', as per Bloomberg. The average of 12-month price targets implies a downside potential of 3.7%.
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