Ola Electric share price rises for third straight session. Is the worst behind or more pain ahead?

Stock market today: After hitting the 52-week low on Thursday last week, Ola Electric shares continue to attract buying interest on Tuesday. Ola Electric share price today opened upside at ₹34.64 apiece on the NSE and touched an intraday high of ₹36.10 per share, logging around 17% rise against the 52-week low of ₹30.76 per share made on Thursday last week.

According to stock market experts, the stock is bouncing back, but it is still not clear whether the worst is behind. They said that Ola Electric share price is facing hurdle at ₹38 apiece levles. Breaking above this resistance, Ola share price may soon touch ₹42 and ₹45 levels.

Ola Electric share price outlook

Speaking on the fundamentals regarding Ola Electric shares, Sachin Jasuja, Head of Equities and Founding Partner at Centricity WealthTech, said, “Ola’s scooter assembly capacity stands at ~1.3–1.5 million units annually at full utilisation. Its cell gigafactory currently has 2.5 GWh of active capacity, with management targeting 5.9 GWh by March 2026 and 20 GWh by FY27, subject to execution.”

“The cell gigafactory will require an additional ₹1,200 to ₹1,500 crore of capex, largely funded through an SBI-led consortium loan. This adds leverage to the balance sheet, especially when compared with peers like Ather, which do not have a similar cell-related capex load,” Jasuja added.

Ola Electric share price target

On what technical chart suggests, Mahesh M Ojha, Designation - VP Research & Business Development at Kantilal Chhaganlal Securities, said, “Ola Electric shares are looking strong on the technical chart pattern. The EV stock has found immediate support at ₹32, whereas it has also established a crucial and strong support level at ₹28. The stock is facing a hurdle at ₹38. Upon breaking above this resistance decisively, Ola Electric shares may soon reach ₹42 and ₹45 apiece. So, Ola Electric shareholders are advised to hold the scrip maintaining stop loss at ₹32. Fresh investors can buy Ola Electric shares, maintaining a stop loss of ₹28.”

On positives that may continue to fuel Ola Electric share price, Sachin Jasuja said, “Vertical integration across cells, battery packs, motors, software, and vehicle assembly could help reduce long-term two-wheeler costs if executed well. Ola also plans to supply battery cells to other EV players, which could open up a B2B revenue stream. The company has guided for its BESS business to reach ~ ₹1,000 crore in revenue by FY27. It is also present in the electric motorcycle segment, though this currently contributes only ~10–15% of revenue.”

Ola Electric financials

Over the last five quarters, revenue has fallen by around 12–13% QoQ, with a ~43% decline YoY. Losses have narrowed (down ~46% QoQ and ~15% YoY), but the continued weakness in revenue remains a concern.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.