OLA ELECTRIC UPDATE
Stocks in news: Tata Power, Cupid, Garden Reach, ITC, Aurobindo Pharma and Vodafone Idea
Indian benchmark indices have extended their winning streak, closing positively after the Muhurat trading session. Key stocks such as life insurance companies and Tata Power reported notable quarterly earnings results. HDFC Life and LIC showed healthy premium growth, while Tata Power recorded a record profit in Q2 FY27. Other companies like Cupid and Mishra Dhatu Nigam also reported impressive profit increases during the quarter.
Stocks in news: TCS, Adani Enterprises, Ola Electric, HCL Tech, Tata Power and Varun Beverages
Indian equities fell as the Reserve Bank of India increased the repo rate by 25 basis points. The Nifty 50 closed down 0.76%, facing resistance at the 22,800 level. Key corporate developments regarding Adani Enterprises, Tata Consultancy Services, Ola Electric, and HCL Tech will be in focus. Other companies like Jubilant FoodWorks and Bank of Baroda also reported significant updates.
Ahead of Market: 10 things that will decide stock market action on Wednesday
Indian equities extended their rebound for a second session, with Sensex rising 685 points and Nifty gaining over 220 points. Falling crude prices, strong Q2 business updates and positive global cues lifted investor sentiment, adding nearly Rs 5 lakh crore to BSE market capitalisation.
Ola Electric brings indigenous Bharat Cell LFP tech to mass market with all-new S1Z
Ola Electric introduces the S1Z scooter featuring indigenous LFP battery technology. This new range aims to bring advanced technology to the mass market segment. The S1Z will be available in two variants with different battery capacities. Deliveries for these models are scheduled to commence in late 2026 and early 2027. The company is expanding its retail network through dealer-operated stores.
Ola Electric unveils Shakti energy storage portfolio for homes, businesses and grids
Ola Electric celebrated India's Independence Day with the introduction of its Shakti energy storage series. This groundbreaking lineup incorporates locally sourced LFP battery technology for various uses. Home users can expect the Shakti Gen2 to arrive by November 2026, while the Shakti Rack and Mahashakti for businesses will roll out in March 2027. The goal is to effectively capture and use clean energy on all levels.
Ola Electric shares jump 31% in 6 months. Should you buy, sell or hold?
Ola Electric shares have rebounded sharply from March lows, supported by improving sentiment, strong sales, and a BESS partnership. Analysts remain cautious, citing execution, competition, and cash-burn risks. Technical indicators suggest resistance near Rs 45–50, with sustained operational improvement seen as essential for further upside.
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Ola Electric to cut store network to 550
Ola Electric is significantly cutting its physical store count to around 550 by March-end. This move follows a sharp drop in market share and operational difficulties. The company is undergoing a structural reset to fix fundamentals and achieve a sustainable steady state. This strategic shift impacts its retail footprint and operating model as it navigates a challenging market.
Ola Electric to hire 1,000 senior service technicians as hyperservice enters next phase
Ola Electric is set to recruit 1,000 senior service technicians and specialists. This move strengthens its after-sales network. The company aims to enhance repair accuracy and customer experience. This expansion is part of the Hyperservice program. It focuses on improving service consistency across India.
Ola Electric shares in focus on launching MoveOS 5, co’s biggest software upgrade yet
Ola Electric launched MoveOS 5, its largest software update yet, rolling out over 50 new features for S1 scooters and Roadster X bikes. The update enhances performance, battery management, ride quality, and user experience across all vehicles.
Explained: Why Ola Electric's sales numbers do not hold up
The Bhavish Aggarwal-led company came under the scanner of the Ministry of Heavy Industries for reported discrepancies between the strong sales numbers it reported and the registrations recorded by the government. But the company said the difference in numbers arose due to a temporary registration backlog and rejected claims of any regulatory issues.
Ola Electric Q3 Results: Cons loss widens to Rs 564 crore YoY, revenue declines 19%
Ola Electric Q3 Results: The revenue declined 19% YoY to Rs 1,045 crore from Rs 1,296 crore. Despite reducing expenses to Rs 1,505 crore from Rs 1,593 crore in Q2FY25 and Rs 1,597 crore in Q3FY24, the company reported higher losses on both YoY and QoQ bases. The financial downturn reflects ongoing challenges despite cost-cutting efforts in the quarter.
Ola Electric shares jump 16% in 2 sessions. Here's what is triggering the stock
Currently operating 800 stores, the company aims to open 3,200 stores in under three weeks, equating to 178 stores per day.
Citi initiates coverage on Ola Electric with Rs 90 target price. Here's what it said
Ola Electric Share Price: Citi initiated coverage on Ola Electric with a "buy" rating and a Rs 90 target price, citing a 22% upside. They highlighted Ola's diverse product range, R&D investments, vertical integration including battery production, and upcoming motorcycles/E3Ws. Ola's large-scale production and Gen 3 platform are expected to boost profitability.
Government orders probe into complaints against Ola Electric’s products, services
The Ministry of Consumer Affairs, under which the Central Consumer Protection Authority (CCPA) operates, has asked the Bureau of Indian Standards (BIS) to look into the complaints received on the National Consumer Helpline (NCH). The report has to be submitted in 15 days.
Ola Electric Q2 Results: Net loss narrows YoY to Rs 495 cr; revenue jumps 39%
Ola Electric Q2 Results: Revenue from operations increased by 39% YoY to Rs 1,214 crore in the September quarter. However, the loss widened sequentially from Rs 347 crore in the previous June quarter. EBITDA losses for the quarter stood at Rs 223 crore, which is higher compared with Rs 321 crore loss reported in the last year period. However, on a quarter-on-quarter basis, operating losses widened from Rs 65 crore posted in Q1FY25.
No credibility in MapmyIndia claims; sent legal notice to them but didn't get reply: Ola founder
Ola Co-Founder Bhavish Aggarwal has dismissed claims by MapmyIndia of copying its map data, stating the company is trying to capitalize on Ola Electric's IPO success. He asserts that Ola developed its own mapping technology and accuses MapmyIndia of making baseless allegations. Ola has sent a legal notice to MapmyIndia.
Ola Electric IPO gets steady response on Day 1. What top brokerages have to say
Ola Electric, supported by government incentives and a scalable business model, is poised to capitalise on India's growing electric vehicle market and expand globally. Despite facing profitability issues and valuation concerns, analysts suggest a "subscribe" rating for risk-tolerant investors with a long-term perspective.
Ola Electric is said to face investor pushback on IPO valuation
Ola Electric Mobility is encountering resistance from investors regarding its targeted valuation for the upcoming initial public offering. According to sources familiar with the matter, the company's founder is aiming for a valuation of up to $7 billion in the Mumbai listing. However, initial feedback from investors suggests a valuation closer to $5 billion. The sources requested anonymity as the information is not public.
Ola's Bhavish Aggarwal has some big announcements for Friday. Here's what the EV co may announce
As per some reports Ola may finally announce the launch of its electric bikes. Ola had showcased its four electric motorcycles -- Diamondhead, Adventure, Roadster and Cruiser - last year during an event. Aggarwal had then said that the bikes will be launched towards the end of 2024. These bikes will be built in India for the world, he had added.
Ola MoveOS4 released: Anti-theft, better map, improved charging mode and other features
Ola Electric has unveiled MoveOS4, its latest software update for electric scooters. The update introduces geofencing and timefencing features, allowing users to set specific operating areas and timeframes for their scooters. It also brings a plethora of new features and improvements, including a faster hypercharger, improved charging time prediction, enhanced riding features like hill descent control and cruise control in eco-mode, and an improved Ola Electric app with a ride journal and dark mode option. The update also enhances the ownership experience with tamper and fall detection, passcode reset, and limiting ride modes for secondary users.
Ola Electric files draft papers for IPO, to raise Rs 5,500 crore via fresh issue
Promoter Bhavish Aggarwal will offer upto 4,73,94,014 shares in the OFS, and Indus Trust, which is also a part of the promoter group entity, will offer upto 41,78,996 shares. This is the first IPO by an automaker in India in over 20 years. The last IPO in the automobile sector was made by Maruti Suzuki (then Maruti Udyog) in 2003.
Ola Electric converts into public limited company ahead of IPO filing
The conversion of a private limited company into a public company is a mandatory step for a firm that wants to list on the stock exchange. Consequently, the name of the firm has been changed to Ola Electric Mobility Ltd from Ola Electric Mobility Private Limited, according to the regulatory filings.
Ola Electric to launch update of S1 electric scooter on August 15
Ola Electric is all geared up to launch MoveOS update 4 on Independence day, August 15, which also happens to be Ola’s consumer day. The new update will be available to consumers by the end of the year.
Ola Electric aims for IPO by 2023-end, hires Goldman, Kotak: Report
Ola Electric, which makes electric scooters, is backed by investors such as SoftBank Group Corp and Tiger Global Management, and was valued at $5 billion in its last fundraise in 2022.
Ola CEO Bhavish Aggarwal shares plan on sports car, upcoming update for e-scooters
Ola Founder and CEO Bhavish Aggarwal has announced that his company is planning to bring a new electric sports car for Indian consumers.
Ola’s top engineering honcho Dinesh Radhakrishnan quits
Radhakrishnan was chief technology officer of Ola Electric when he left the company, as per his LinkedIn profile. His departure only highlights the continuous churn at Ola’s senior leadership that has plagued the company for several years. Scores of top executives have left the company after brief stints that spanned a year or less.
Ola S1 pro electric scooter catches fire in Pune, company says will take appropriate action
In the 31 second video, the scooter is seen parked on the roadside of a busy commercial area and is completely engulfed in fire, possibly suffering from a thermal runway.
Ola Electric ramping up production to ensure timely deliveries
Ride-hailing major and electric vehicle maker Ola said it was ramping up production operations and ensuring deliveries as scheduled, amid allegations from a dealers’ body of receiving consumer complaints regarding non-adherence to committed timelines.
Ola Electric delivers first 100 scooters without some promised features
While there were around 40 customers present at the venue, three customers who ET spoke to said that some of the promised features -- the mobile app, hill hold, cruise control, voice commands and Bluetooth -- were yet to be enabled.
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