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Ola Electric Investors Alert! HSBC Sets ₹24 Target, Share Could Plunge 37%.
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News18•29-09-2026, 17:57
Ola Electric Investors Alert! HSBC Sets ₹24 Target, Share Could Plunge 37%.
- •Ola Electric Mobility shares declined over 4% in early trading Tuesday, hitting an intraday low of ₹36.30.
- •HSBC maintained its 'Reduce' rating on Ola Electric shares, setting a target price of ₹24, 37% lower than Monday's closing price.
- •HSBC's concerns focus on risks related to brand strengthening and business execution, despite progress in battery manufacturing.
- •Ola Electric has proposed a board meeting on October 5 to consider a rights issue to raise up to ₹1,000 crore.
- •According to Bloomberg data, 6 out of 8 analysts covering Ola Electric have a 'Sell' rating, and 2 have a 'Hold' rating, with no 'Buy' ratings.
Key Questions Answered
HSBC has maintained a 'Reduce' rating on Ola Electric shares with a target price of ₹24, which represents a potential decline of about 37% from Monday's closing price of ₹37.86.
Ola Electric has scheduled a board meeting on October 5 to consider terms for a proposed rights issue of partly paid-up equity shares aimed at raising up to ₹1,000 crore, pending regulatory approvals.
While noting progress in battery manufacturing and localization at the Giga Factory, HSBC raised concerns regarding the risks associated with effective brand rebuilding and better business execution.
