Ola Electric Shares Today: Shares of Ola Electric Mobility Ltd. continued to slide on Friday, falling as much as 6 per cent to Rs 60.58, extending their two-day decline to 12 per cent. The fall comes just days after the stock delivered a sharp rally — and despite positive commentary from both market experts and global brokerages.
Between August 22 and September 3, Ola Electric shares had surged 46 per cent. But the recent sell-off has diluted a chunk of those gains. The stock has now declined in three of the last five trading sessions, and is once again trading below its IPO price of Rs 76.
Anil Singhvi Gives ‘Buy” Call on Ola Electric
Market expert Anil Singhvi is seeing Ola Electric as a short-term trading opportunity, advising traders to consider buying on dips. He recommends a stop-loss at Rs 63, with near-term targets of Rs 67, Rs 69, and Rs 71, citing technical support and continued retail interest. However, the broader sentiment around the stock has turned cautious after a key shareholder offloaded part of its holding.
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SoftBank Cuts Stake in Ola Electric
In a regulatory filing, SVF II Ostrich (DE) LLC, an investment arm of SoftBank, disclosed that it had sold 94.9 million shares, or 2.15 per cent of Ola Electric, between July 15 and September 2. Following the transaction, SoftBank’s stake has reduced from 17.83 per cent to 15.68 per cent.
Goldman Sachs Remains Bullish on Ola Electric
Global brokerage Goldman Sachs remains constructive on the stock. It has maintained its ‘Buy’ rating and raised its target price to Rs 72, citing recent execution improvements and stronger product visibility.
Goldman highlighted Ola’s recent PLI (Production-Linked Incentive) certification for its Gen 3 electric scooters, and the company’s plan to launch new performance scooter models early next year. These developments, it said, position Ola to benefit from India’s growing EV demand.
Battery Cell Plans Trimmed
On the manufacturing side, Ola Electric has revised its battery cell production target significantly — now aiming for 5 GWh of capacity, down from its earlier goal of 20 GWh by 2030.
Retail Investors Hold Steady
As of June 2025, over 16.5 lakh retail investors held the stock, representing 13.94 per cent of the company’s equity. The stock had listed flat at Rs 76 per share in its August 2024 IPO, surged to Rs 157, then crashed to Rs 39.6 in July this year, before staging its recent comeback.
