India's Ola Electric Mobility drops to lifetime low after third-quarter results

Ola Electric Mobility

16/02/2026 04:31

** Shares of Ola Electric Mobility OLAE.NS drop as much as 6.7% to their lifetime low of 28.81 rupees, last down 5.5%

** Electric two-wheeler maker posted consol net loss of 4.87 billion rupees ($53.7 million) in Q3 from a loss of 5.64 billion rupees year ago; revenue plummets 55% Y/Y to 4.7 billion rupees

** Brokerage Ambit says EBITDA losses expanded with margin dropping 14% Y/Y in Q3 due to higher employee exit costs

** Ambit cuts PT to 25 rupees from 30 rupees, maintains 'sell' rating

** Emkay downgrades OLAE to "Sell" from "Buy", cuts PT by 60% to 20 rupees from 50 rupees

** Kotak cuts PT to 20 rupees from 25 rupees, maintains "Sell"

** Adds, OLAE continuously fails to acknowledge major concerns related to products, which are contributing to sustained below-expectation volume offtake and a rapidly declining market share

** OLAE fell 58% in 2025

($1 = 90.6540 Indian rupees)

(Reporting by Vijay Malkar)

((VijayDattaram.Malkar@thomsonreuters.com;))