Goldman Sachs cuts estimates on India's Ola Electric on market share decline

Ola Electric Mobility

24/10/2025 07:52

Oct 24 (Reuters) - ** Shares of Ola Electric OLAE.NS fall 2.1% to 52.56 rupees

** Goldman Sachs lowers PT to 62 rupees from 72 and cuts FY26-28 rev estimates by up to 27%, citing OLAE's decline in two-wheeler market share to under 15% from 27%; maintains "buy"

** New PT is still a Street-high, well above analysts' avg of 46.50 rupees, with avg rating of "hold", per data compiled from LSEG

** GS says investors will watch whether OLAE's execution in lithium battery energy storage market will be better than its two-wheeler business, where its market share has slipped in the last one yr

** OLAE down ~39% YTD

 (Reporting by Urvi Dugar)

 ((UrviManoj.Dugar@thomsonreuters.com;))