Ola Electric Mobility Ltd. shares fell by up to 5% on Thursday, August 21, following a sharp two-day rally. The stock had surged nearly 20% on Wednesday after a 9% gain on Tuesday, totaling a 29% rise in just two sessions and reaching its highest level in nearly three months. It has advanced in four of the last five sessions. On August 20, trading volumes hit a record high with over 111 crore shares traded, though delivery volumes were just 19 crore shares—only 17%—marking the lowest delivery ratio in four months.
Among six brokerages tracking the stock, two have a ‘Buy’ rating, two suggest ‘Sell’, and two remain ‘Neutral’, with target prices ranging from ₹40 to ₹63. Ola Electric reported 9,522 registrations in August, trailing Ather Energy’s 10,248, indicating a potential dip in market share.
In Q1, Ola’s performance improved quarter-on-quarter, with narrowed losses and a 1,100 bps jump in gross margins to 26%. The company expects auto EBITDA to turn positive from Q2 and exceed 5% for the full year.
