Ola Electric Surges On Goldman Upgrade Retail Investors Stay Bullish

2025-09-08 05:00:56

(MENAFN- AsiaNet News)

Ola Electric's stock reversed Friday's losses to gain over 7% on Monday following a positive brokerage report. The mobility company's shares have been on a surging rally over the past month, gaining over 60%.

Goldman Sachs Raises Price Target

Goldman Sachs reiterated its 'Buy' rating for the stock while raising the price target to ₹72 from ₹63 per share.

Ola revised its battery cell manufacturing roadmap, scaling back its target to 5 GWh capacity by 2030 from the earlier goal of 20 GWh. The company also secured PLI scheme certification for its Gen 3 models and outlined plans to roll out a new line of performance scooters early next year.

Goldman Sachs reportedly expects Ola's Gen 3 scooter platform, coupled with an expanding service network, to help achieve a steady-state market share of 30 - 35% in India's electric two-wheeler market.

“We factor these updates into our model in the form of lower battery capex, modest increase in revenue estimates, and consequent marginal improvement in outer year profitability,” Goldman Sachs analysts said in a note. They raised the FY26-FY28 revenue estimates by up to 5%.

Softbank Stake Sale

Ola Electric closed 7.1% lower on Friday after SoftBank trimmed its stake by 2%, cutting its holding to 15.68%. Before the transaction, SoftBank owned 17.83% of Ola.

SoftBank's SVF II Ostrich (DE) LLC disclosed the sale of 94.9 million equity shares between July 15 and September 2. Despite the dilution, the Japanese investor remains one of Ola Electric's largest institutional backers, having supported the company across several funding rounds ahead of its IPO.

Stock Watch

Retail sentiment for Ola on Stocktwits remained 'bullish' despite Friday's heavy losses. The stock has been on retail investors' watchlists for a while, with chatter on the platform largely 'high' over the past year.

Despite the 60% monthly gain, the stock's year-to-date losses stand at over 27%.

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