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 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.
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.
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 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’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.
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