Ola Electric Mobility Ltd shares fell 4.88 per cent to hit a low of Rs 68.35 in Friday's trade after the pure-play EV firm's net loss widened to Rs 562 crore in the December 2024 quarter (Q3 FY25) compared to Rs 374 crore in the year-ago period.
The Bhavish Aggarwal-led company's revenue from operations slipped 19.36 per cent to Rs 1,045 crore in Q3 FY25 from Rs 1,296 crore in the corresponding period last year.
A market expert suggested to avoid the stock at current levels. "The stock is trading below its listing price and there is absence of demand currently. The reaction we are looking at currently doesn't give you comfort that this is a candidate from a long-term perspective. There could be more pain ahead and the stock might head lower. We suggest avoiding it as of now," Akshay Bhagwat, Senior Vice-President of Derivatives Research at JM Financial Services, told Business Today.
On technical setup, Ola Electric's stock traded lower than the 5-day, 10-, 20-, 30-, 50-day and 100-day simple moving averages (SMAs). The stock's 14-day relative strength index (RSI) came at 50.37. A level below 30 is defined as oversold while a value above 70 is considered overbought.
Separately, the EV firm said it maintained leadership position through Q3 FY25 with a 25.5 per cent market share (as per VAHAN data) driven by the company's singular EV focus, strong product portfolio and technology leadership.
Further to this, the company underscored that it retained market share leadership in January 2025 (as per VAHAN) with an uptick in gross margin of around 26 per cent (provisional and unaudited) up from 20.4 per cent in Q3 FY25.
Founded in 2017, Ola Electric is a pure-play electric vehicle player that primarily manufactures electric vehicles and certain core components for electric vehicles such as battery packs, motors and vehicle frames at the Ola Futurefactory. As of December 2024, promoters held a 36.78 per cent stake in the E2W player.