Ola Electric Mobility Share Price Highlights August 20, 2024: Ola Electric Mobility shares close 6% lower reversing early gains

Shares of Ola Electric Mobility closed at ₹137.38 on the NSE, lower by 6.15%. 

On the BSE, the stock ended at ₹137.33, down by 5.96%.

EV maker Ola Electric reported revenue from operations of ₹1,644 crore for the quarter ended June 30, 2024, up 32.3 per cent from ₹1,243 crore in the corresponding quarter of the previous financial year.

Consolidated net loss stood at ₹347 crore (₹267 crore). However, on a sequential basis, the net loss narrowed from ₹416 crore reported in the January-March quarter.

Bhavish Aggarwal-led company’s EBITDA loss was at ₹205 crore (₹218 crore).

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Ola shares tanked 8.94% on the NSE, trading at ₹133.30 as at 2.06 pm.

Ola Electric Mobility shares shed 6.5% at 137 rupees, set to snap three-session winning streak

Stock still up 80% from listing price

Reuters

Ola Electric Mobility shares dropped 6.33% on the NSE, trading at ₹137.12 as at 12.08 pm.

On the BSE, the stock declined 6.10% to trade at ₹137.12.

Ola Electric Mobility shares declined 1.71% on the NSE to trade at ₹143.88 as at 10.33 am. 

On the BSE, the shares were down 1.93% to trade at ₹143.21.

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Ola Electric Mobility shares plunged 3.91% on the NSE, trading at ₹140.66 as at 10.09 am.

On the BSE, the stock dipped 2.57% to trade at ₹142.27 as at 10.11 am.

The stock on Monday closed 10% higher. 

“While the long-term potential of Ola Electric, especially given the EV market’s favorable outlook, might be appealing, the current valuation appears to be quite speculative. Investors should be cautious, especially given the company’s ongoing losses and the high volatility in its stock price. For new investors, it may be wise to wait for a more stable entry point or consider the stock as a long-term play with a high risk-reward ratio. Meanwhile, at their annual ‘Sankalp’ event, the company introduced four new motorcycles across various price ranges. While motorcycles dominate the broader two-wheeler market in India, their share in the EV segment is currently just 1%, offering significant growth potential for the company. The launch is expected to positively impact as the company benefits from a first-mover advantage in the electric motorcycle segment. and the potential for increased market penetration, Ola is likely to see enhanced revenue visibility over the long term. This strategic move could further strengthen its position in the EV market, contributing to sustained growth in its share price.”

Ola Electric Mobility stock continues its bull run to hit a fresh high crossing ₹150 mark in early trade on Tuesday. 

The stock on Monday closed at ₹146.38 on the ​​NSE ​​and at ₹146.03 on the ​​BSE​​, higher by 10 per cent.

Shares of Ola Electric closed at its upper circuit on the stock exchange. On the NSE, the stock was up 9.99% to close at ₹146.38. 

On the BSE, the stock closed at ₹146.03, higher by 10%.

Three firms backed by SoftBank have made solid Mumbai debuts in the past week. Shares of e-scooter maker Ola Electric Mobility Ltd., the biggest of the initial public offerings, have surged 75%. Software maker Unicommerce eSolutions Ltd.’s shares also gained about 75% while baby-products retailer Brainbees Solutions Ltd.’s are up more than 40%. 

The market is bustling with big debuts. Ola raised about $733 million in what was the nation’s largest IPO in about two years.

Bloomberg report

Ola Electric Mobility shares traded at ₹146.38 on the NSE, higher by 9.99% as at 2.15 pm.

Ola Electric shares again mount to trade at the upper circuit on the NSE (₹146.38), higher by 9.99%.

Investors in the IPO must be laughing all the way, as shares of the pure electric vehicle company jumped nearly 75 per cent against the IPO price of ₹76.

According to HSBC Global Research, despite its conservative view on EV penetration in India along with other uncertainties, the global advisory firm believes Ola is still worth investing in.

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Ola Electric Mobility recently reported revenue from operations of ₹1,644 crore for Q1 — up 32.3 per cent from ₹1,243 crore in the corresponding quarter last year. However, its consolidated loss widened to ₹347 crore (₹267 crore). But, on a sequential basis, the net loss narrowed from ₹416 crore.

The June quarter has been a “good quarter” in terms of growth and profitability, Aggarwal said in a post-earnings call.

Ola Electric recently launched three electric motorcycles and announced the integration of its battery cells in its vehicles.

The electric motorcycle portfolio, ‘The Roadster Series‘ has three motorcycles – Roadster X, Roadster and Roadster Pro. The introductory price of the e-bikes start at ₹74,999.

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The company’s total market valuation stood at ₹64,565.73 crore.

Ola Electric Mobility shares hit the upper circuit on the NSE and BSE. Shares traded at ₹146.38 on the NSE, higher by 9.99%. 

On the BSE, the stock was up 10% to trade at ₹146.03 as at 10.05 am.