Ola Electric shares slip 4% on wider Q3 net loss. Details here

Shares of Ola Electric Mobility Ltd slipped 3.81 per cent in Monday's trade to hit a low of Rs 67.35. Today's fall in the share price came after the pure-play electric vehicle (EV) firm said its consolidated loss for the quarter ended December 31, 2024 (Q3 FY25), has widened to Rs 564 crore as against Rs 376 crore in the year-ago period. During the quarter under review, revenue from operations stood at Rs 1,045 crore, down 19 per cent from Rs 1,296 crore in the corresponding period last fiscal.

Around 23.49 lakh shares were last seen changing hands on BSE today. The figure was lower than the two-week average volume of 44.39 lakh shares. Turnover on the counter came at Rs crore, commanding a market capitalisation (m-cap) of Rs 29,931.89 crore.

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 47.43. A level below 30 is defined as oversold while a value above 70 is considered overbought.

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.