GAGA Share Market News

[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...