OLA ELECTRIC
Ola Electric Q2 revenue slumps 39% to Rs 421 crore, losses narrow
The company said it has stopped orders from its direct-to-consumer stores on November 1, and plans to close them by December. The company, which had announced a pivot to a dealership model in August, now has 255 dealer partners operating over 300 stores, it said in the shareholder letter.
Ola Electric says demand outstrips supply, targets 25,000 vehicles in December
Ola Electric Mobility is experiencing high demand for its electric two-wheelers, causing supply constraints. The company plans to ramp up production to approximately 25,000 vehicles by December. Despite these plans, recent losses were reported along with a decline in consolidated revenue from operations. Ola Electric has significantly reduced its borrowings and expects to generate free cash flow soon.
Zee Entertainment approves Rs 600-crore share buyback at Rs 91 apiece; promoters to stay out
Zee Entertainment has approved a Rs 600 crore share buyback at Rs 91 per share, a 24% premium over its latest NSE closing price. The company will repurchase up to 6.59 crore shares through the tender offer route, with November 25 fixed as the record date. Promoters will not participate.
Ola Electric Q2 Results: Loss narrows YoY to Rs 362 crore, revenue falls 39%
Ola Electric Q2 Results: The electric two-wheeler maker's revenue from operations fell 39% year-on-year (YoY) to Rs 421 crore from Rs 690 crore in the year-ago quarter.
Lenskart, Meesho deliver gains of nearly $400 million for SoftBank Vision funds
Lenskart saw returns of $273 million, the highest among the Vision funds' listed investments, while Meesho gained $121 million, according to SoftBank's earnings presentation released on Tuesday. The gains come as SoftBank continues to monetise its Indian investments, having sold shares worth more than Rs 9,300 crore in Lenskart and Meesho since June.
Ola Electric shares jump 7% ahead of Q2 results, extends EV-policy rally
Ola Electric shares have rallied 9% in two sessions, adding over Rs 1,400 crore to the company's market value after the Centre made EVs its preferred choice for government staff-car procurement. Investors are now awaiting the electric two-wheeler maker's Q2 results for signs of a recovery in its business.
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.
UPI sees Diwali boom; AI cracks Captcha
Diwali spending fuelled a surge in UPI transactions, with both payment volumes and values rising. This and more in today’s ETtech Top 5.
Vietnam’s Green SM set for Bengaluru debut by December, ruffling ride-hailing market
Senior government officials said Karnataka has granted Green SM an aggregator licence under the Karnataka On-demand Transportation Technology Aggregators Rules, 2016, after the company fulfilled all regulatory requirements.
Centre's EV push puts electric mobility stocks in the fast lane; M&M, Ola Electric lead rally with gains of up to 5%
Electric mobility stocks rallied on Wednesday after the Centre made EVs the default choice for government staff-car procurement and doubled the price ceiling for electric cars to Rs 20 lakh. M&M led the gains, followed by Ola Electric, Hyundai Motor India and TVS Motor Company.
Mercedes plans bigger India play with greater localisation of parts
Mercedes-Benz plans to increase its local manufacturing efforts while expanding its supplier base in India. The luxury carmaker expects to achieve record annual sales if the current trend continues. Ola Kallenius, the global chairman, highlighted the potential for Indian suppliers to support global operations. The company has committed an additional investment of ₹200 crore, raising total investments to ₹3,200 crore.
Ahead of Market: 10 things that will decide stock market action on Wednesday
Indian equities rallied nearly 2%, with Sensex gaining 1,225 points and Nifty rising 370 points. Falling crude prices, renewed FII buying, resilient earnings and expectations of LTCG tax changes boosted sentiment, adding nearly Rs 4 lakh crore to market capitalisation.
Fintechs fortify cyber defences; Logistics cos in the speed lane
Happy Monday! Fintechs are stepping up security as AI-powered cyberattacks become more sophisticated. This and more in today’s ETtech Morning Dispatch.
Electric two-wheeler sales hit record 2.24 lakh units in October on festive demand, new models
TVS Motor retained its leadership in October, nearly doubling registrations to 60,433 units and expanding its market share to 27% from 20.6% in the same month last year. Hero MotoCorp also gained ground, with its share rising to 13.4% from 10.9%, while Bajaj Auto maintained its market share at nearly 22%.
Ola Electric’s Rs 1,000-crore rights issue fully subscribed ahead of closing date
The rights issue, which opened on Thursday, will close on October 30. Shareholders could sell or transfer their rights entitlement in the market until October 26. The company finalised the terms of the issue earlier this month, setting the price at Rs 27 per share, a 26% discount to its market value.
Cognizant eyes Sarvam stake; Ather aims for higher market share
Happy Wednesday! Cognizant has held discussions to invest in homegrown AI startup Sarvam. This and more in today’s ETtech Morning Dispatch.
SoftBank sold 1.2% stake in Ola Electric between January-October
The investor also sold rights entitlements to subscribe to an additional 1.12 crore shares, according to a disclosure filed with the stock exchanges. Ola Electric is in the process of raising Rs 1,000 crore through a rights issue of partly paid-up equity shares.
SoftBank sells 1.21 crore Ola Electric rights entitlements as EV maker seeks to raise Rs 1,000 crore
SoftBank sold nearly 28% of its Ola Electric rights entitlements over two sessions as the company launched a Rs 1,000-crore rights issue. Meanwhile, Motilal Oswal entities applied for 2.39 crore shares amid declining revenue and persistent losses.
Ola Electric shares dip 5% after Goldman Sachs downgrades stock to Sell. Here’s why
Ola Electric shares fell sharply on Friday after Goldman Sachs downgraded the stock to Sell from Neutral and cut its target price to Rs 23, implying a 28% downside. The brokerage lowered its FY27-FY29 revenue estimates by up to 10%, citing prolonged operating losses and challenges in sustaining market share.
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