Ola Electric's stock rises on Goldman Sachs's 'neutral' call
Business
Ola Electric's stock inched up 1.2% to ₹25.9 on Thursday, just as Goldman Sachs gave a 'neutral' call and reduced its target price by half—from ₹52 down to ₹26.
Goldman's target price slashed by half
Ola's numbers have taken a hit: revenue fell 55% year-on-year and losses widened last quarter.
Other banks like Citi and Emkay also cut their targets, with Citi citing mounting balance-sheet concerns amid persistent cash burn, while Emkay pointed to a weak quarter and volume declines.
Goldman now thinks Ola will only hold a small slice of the EV market by 2030—and suggests the company focus on better service and reliability if it wants to turn things around.