GAGA Share Market News

[hfe_template id='11223'] [ad_1] Ola Electric Mobility shares fell by 4% to an intraday low of Rs 70.55 on the BSE after the Central Consumer Protection Authority (CCPA) sought additional documents from the company as part of its ongoing investigation into the electric two-wheeler manufacturer. “In continuation of the earlier letter received from the Central Consumer Protection Authority dated December 04, 2024, by Ola Electric Mobility Limited we would like to inform you that the company has received further request for information via email dated January 10, 2025,” the company said in an exchange filing on Friday post market hours. It comes days after the Karnataka High Court granted the Bhavish Aggarwal-led firm a six-week extension to submit its response to the CCPA. The CCPA first issued a show-cause notice to Ola Electric on October 8, 2024, over alleged consumer rights violations, misleading advertisements and unfair trade practices. In its response on October 21,...

[hfe_template id='11223'] [ad_1] Two-wheeler EV maker Ola Electric shares will be in focus on Monday after the company reported a narrowing of its net loss year-on-year (YoY) to Rs 495 crore for the quarter ended September 2024, compared with Rs 524 crore in the last year quarter. Meanwhile, its revenue from operations, meanwhile, rose 39% YoY to Rs 1,214 crore in the reporting September quarter. On a sequential basis, however, the loss widened from Rs 347 crore reported in the preceding June quarter. EBITDA losses for the quarter were Rs 223 crore, compared to a loss of Rs 321 crore in the same period last year. However, on a quarter-on-quarter basis, operating losses widened from Rs 65 crore in Q1 FY25. EBITDA margins during the second quarter were reported at-28.4%, as compared to -46% in the year-ago quarter. The company said it has maintained its market leadership with 33% market share during Q2FY25 despite aggressive competitive action. “We are expanding distributi...

[hfe_template id='11223'] [ad_1] Shares of Ola Electric Mobility surged 6% to a day’s high of Rs 114.30 on BSE today after global brokerage firms Goldman Sachs and Bank of America (BofA) initiated coverage on the stock with target prices of Rs 160 and Rs 145, respectively. Goldman Sachs' target price signals an upside potential of 48% from the stock’s closing price on Monday, while BofA’s target suggests a 34% upside. Here is a brief overview of what the two global brokerage firms had to say about Ola Electric’s future prospects: Goldman Sachs: Buy | Target price: Rs 160 The global brokerage firm stated that the company is building local formula for the giga growth in Electric 2Ws and has positively levered to long-term structural trends in India's E2W market. Ola can achieve EBITDA breakeven in FY27 and the global brokerage firm expects FY24 to FY30 revenue growth of +40% CAGR, implying FCF breakeven in FY30 and also to achieve 11.9%/27% EBITDA margin/ROIC by FY...

[hfe_template id='11223'] [ad_1] Amid some profit booking and broader market volatility in the past week, Ola Electric Mobility shares faced significant pressure as they fell 22% in the last five trading sessions. The stock has tumbled 24% from its peak of Rs 157.40, which was made on August 20. Just seven days after its listing on the bourses, the stock had doubled in value and was trading at a higher valuation than even that of Elon Musk's Wall Street-listed Tesla. “While the long-term potential of Ola Electric, especially given the EV market's favorable outlook, might be appealing, the current valuation appears to be quite speculative. Investors should be cautious, especially given the company's ongoing losses and the high volatility in its stock price," Saji John, Senior Research analyst at Geojit Financial Services had said. Soon after the share price rise, global brokerage firm HSBC also initiated coverage on the company with a target price of Rs 1...

[hfe_template id='11223'] [ad_1] Shares of electric scooter maker Ola Electric surged 15.8% to a day’s high of Rs 128 on the BSE after the company announced a 32% YoY increase in revenue for the first quarter of FY25, reaching Rs 1,644 crore. The company also launched its electric motorcycle, the Roadster, on August 15. Quarterly results The company reported a year-on-year (YoY) revenue increase, but the quarterly loss widened to Rs 347 crore, up from Rs 267 crore in the same quarter of the previous year. The firm's automotive division saw total income increase by 34% to Rs 1,722 crore, though the loss after tax widened to Rs 233 crore from Rs 189 crore a year ago. The battery division reported an income of Rs 5 crore for the quarter, with a loss after tax of Rs 37 crore. Ola Electric's revenue increased from Rs 1,671 crore in the last quarter of FY24, and its net loss narrowed from Rs 416 crore reported for the quarter ended March 31, 2024. Electric motorcycle l...