Ola Electric Mobility shares slipped 3% in morning trade after Kotak Institutional Equities reiterated its ‘Sell’ rating on the stock with a target price of ₹30. This cautious stance comes despite the EV firm reporting a lower-than-expected Q1FY26 net loss of ₹428 crore, versus ₹347 crore in Q1FY25.
Ola’s revenue halved year-on-year to ₹828 crore, while EBITDA loss widened to ₹237 crore from ₹205 crore. Kotak noted some positives, including better volumes (aided by ~7,000 unit backlog), improved gross margins due to the Gen-3 platform, reversal of warranty provisions, and strong cost controls.
However, Kotak flagged weak volume trends and increasing market competition as key concerns. The brokerage remains wary despite Ola guiding FY26 revenue in the ₹4,200–4,700 crore range, implying a possible revenue decline of 7% or a modest 4% growth—highlighting uncertainty in the EV sector’s outlook.
Ola Electric Mobility shares opened at ₹48.40 and, at the time of writing, hit a high of ₹48.90 during the day. The stock also touched a low of ₹45.16. Over the past year, the company’s share price has seen a 52-week high of ₹157.40 and a low of ₹39.60.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
