Ola Electric shares shed over 5% after 3.2% stake changes hands in block deal
Shares of Ola Electric Mobility slipped as much as 5.5% on Tuesday to Rs 50.75 on the BSE after a large block deal involving 3.2% equity changed hands, according to reports.
ADVERTISEMENT The transaction, which triggered sharp intraday volatility, came amid sustained pressure on the stock and ongoing concerns about the company's financial performance.
According to ET Now, Ola Electric shares witnessed a block deal involving 3.2% equity. Meanwhile, CNBC-TV18 reported that 14.22 crore shares, amounting to 3.23% of the company's equity and worth Rs 731 crore, changed hands at Rs 51.4 per share.
Citing unnamed sources, CNBC-TV18 also reported, 'Hyundai is likely the seller in the Ola Electric block deal.'The stock has been under sustained selling pressure in recent months. Shares have declined 46% over the past six months, 11.4% in the last three months, and 4.1% in the past week, though they have risen 3.7% over the past month.The sell-off comes on the heels of disappointing quarterly results. On Thursday, Ola Electric reported a consolidated net loss of Rs 870 crore for the quarter ended March 2025, widening from Rs 416 crore in the same period last year. Revenue from operations dropped sharply to Rs 611 crore, down from Rs 1,598 crore in the year-ago quarter, the company said in a regulatory filing.
ADVERTISEMENT For the full financial year, the company posted a net loss of Rs 2,276 crore, compared with Rs 1,584 crore in FY24. Operating revenue declined to Rs 4,514 crore from Rs 5,010 crore a year earlier.Despite the weak numbers, Ola Electric reaffirmed its commitment to turning profitable. 'FY26 will be focused on scaling revenue and operating leverage as the company marches towards sustainable profitability,' it said.
ADVERTISEMENT The company added that its gross margins improved by 38% in FY25, and that Q1 FY26 has shown a 10-percentage-point improvement in gross margins over Q4 FY25.From a technical standpoint, Ola Electric's stock is currently trading below five of its eight key simple moving averages (SMAs) — including the 5-day, 10-day, 100-day, 150-day, and 200-day SMAs — indicating bearish undertones across short- to long-term charts.
ADVERTISEMENT The Relative Strength Index (RSI) stands at 57.7, suggesting the stock is neither overbought nor oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 0.4 and remains above both the center and signal lines, reinforcing an ongoing bullish trend.
Also read | Why is it the perfect time to invest in Nifty 200 Momentum 30 Index?
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
(You can now subscribe to our ETMarkets WhatsApp channel)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Defence testing lab to come up at Sidco estate in Trichy
1 2 Trichy: Tamil Nadu Industrial Development Corporation (Tidco) has finalised a 1.4 acre site inside Thuvakudi Small Industries development Corporation (Sidco) industrial estate near NIT Trichy to develop Advancing Mechanical & Material Defence Testing lab at an outlay of Rs 50 crore. The integrated testing facility will function under public-private collaboration involving major public sector companies including BEML and HAL to engage in high-end testing and certification of materials for aerospace and defence companies in the state. Proposed under Defence Testing Infrastructure Scheme (DTIS), the lab, named System Testing and Research in Advanced Material (STREAM) foundation, will have comprehensive infrastructure comprising at least 40 testing machinery on 13,000 square feet floor space. As the state govt already has a built-up space of 3,000 square feet in Thuvakudi Sidco complex, Tidco has simultaneously launched procurement procedures to buy material testing equipment while expanding the built-up space. "The aerospace and defence testing lab will decentralize the investment and boost Tamil Nadu's leadership in defence and aerospace sector. Since Trichy as a node of the defence industrial corridor has an established ecosystem for metal fabrication, the lab will be a game changer," Wing Commander P Madhusoodhanan, vice-president, (aerospace and defence), Tidco, told TOI. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo As the aerospace and defence sector requires high quality standards, lack of a comprehensive material testing facility in Trichy was so far discouraging industries from exploring new business areas. Once the facility becomes operational, testing requirements will be satisfied locally, said Tidco officials. "The material testing lab in Thuvakudi is set to play an important role in the state's industrial ecosystem. Skill development service for workers will be provided at the lab. Volume of production done by local companies will certainly increase. Initially, around 30-40 people will be employed in the testing lab," Angayasamy Subbiah, managing partner, Vaidheswaran industries, an industry partner of the proposed STREAM Lab, said. The proposed common testing facility will provide quality certification and validation services for local industries to manufacture products for major defence and aerospace companies. "Not only defence and aerospace, even ancillary units of Bhel Trichy will benefit since material grade and quality testing is a key component in manufacturing," N Kanagasabapathy, coordinator, Bhel small-scale industries (Bhelsia), said. The integrated testing lab is set to become operational by December. Tidco said that the lab will run as a non-profit company, generating revenue only to sustain the operations and maintenance.
Time of India
an hour ago
- Time of India
Committed to comprehensive devpt of Alnavar taluk: Lad
Dharwad: District minister Santosh Lad has affirmed his commitment to the overall development of the newly formed Alnavar taluk. He said continuous efforts are being made to make Alnavar a model taluk by taking up various development works. Speaking after laying the foundation stone for the construction of Praja Soudha in Alnavar on Tuesday, the minister expressed his commitment to developing Alnavar taluk holistically and providing all necessary basic infrastructure to both the taluk headquarters and every village within the taluk. "The state govt has sanctioned Rs 8.6 crore for the construction of the Praja Soudha, which will include modern amenities for public and administrative use," Lad said. "Though the Praja Soudha is being constructed on the outskirts of the town, the area will soon become central as Alnavar expands," he said. "Importantly, no private or farmer's land was acquired for this; the building is being constructed on available govt land in a location convenient for the public, keeping future traffic and crowd considerations in mind," Lad said. "Aadhaar has been linked to the land records (Pahanis) of 15,988 farmers in Alnavar taluk, achieving 96.30% progress," he added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo Under the Bhoosuraksha project, 3,90,054 pages of land records in the taluk have been digitised. Since June 1, a system is in place to provide digital land records to the public. "A permanent drinking water supply project costing Rs 71.9 crore has been initiated for 3,780 houses in Alnavar town," he said. Over the last two years, Rs 92.7 crore in financial assistance has been distributed in Alnavar through the state's five guarantee schemes. "The existing six-bed primary health centre in Alnavar will be upgraded to a 30-bed community health centre. This has been approved in the 2025 state budget," the minister said. He said Rs 6 crore has been released for the restoration and rejuvenation of the canal and tail channel of Indiramma lake in Hulikeri village. About 80% of the work is complete and will benefit irrigation in over 1,240 hectares of farmland in the taluk. Deputy commissioner Divya Prabhu, zilla panchayat CEO Bhuvanesh Patil, superintendent of police Gopal Byakod, and other officials were present.
Time of India
an hour ago
- Time of India
Cabinet will discuss JAC demands, CM firm on resolving employees' issues: Bhatti
Hyderabad: Ahead of the cabinet meeting on Thursday, deputy chief minister Bhatti Vikramarka-led cabinet sub-committee held talks with govt employees' JAC leaders on Wednesday and assured them that the Congress govt considered their 57 demands as genuine. "Despite financial constraints, the CM is firm on resolving their issues. The cabinet sub-committee will submit a report to the govt with its recommendations, and the cabinet meeting on Thursday will decide which of the financial intensive and other demands will be accepted," Bhatti said. Sources told TOI that the cabinet meeting was likely to give preference to clearing a significant quantum of the pending Rs 10,000 bills of the employees and may announce release of one Dearness Allowance and time frame for another DA. The govt may also accept demand of new health cards, but a final decision on "cashless and capless treatment" would be taken after cabinet discussion. The govt may also revise the treatment slabs fixed nearly nine years ago. However, contrary to expectations, sources said the cabinet may not decide on enhancing the retirement age from the present 61 to 64 years following intelligence reports on severe backlash from students and youth. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo "Resolving the issues of employees is the govt's responsibility. We are confident that tomorrow's cabinet meeting will find solutions to many of the demands of the JAC," he said while emphasising the need for their cooperation so that neither the public nor employees face difficulties. He said that it was due to financial issues resulting from the past decade's governance that bills and other demands of the employees piled up. "The Congress is continuing many welfare schemes of the previous government and is also implementing its own promises. Also, new schemes not announced in the manifesto have been launched. All this is being done without any additional tax on the citizens. The govt is committed to addressing employees' demands as part of this effort," Bhatti said. On their part, the JAC leaders said they would decide their future course of action based on the cabinet decision. The JAC has threatened to launch protest programmes in a phased manner, followed by a pen-down strike from June 9 onwards, if at least some of their important demands are not met. The JAC has demanded 51% fitment (PRC), release of at least three of the five pending DAs and Rs 10,000 crore employees bills, new health cards with cashless and capless treatment, revision of old rates of medical treatment and a number of non-financial issues such as general transfers. Besides these issues, the cabinet meeting on Thursday is also expected to discuss the approval of loans to unemployed youth under Rajiv Yuva Vikasam, implementation status of various development projects and those to be launched with central assistance, and national dam safety authority and vigilance reports.
