BusinessHSBC Cuts Ola Electric Target Price to ₹24, Shares May Fall 37%
Ola Electric shares fell over 4% on Tuesday after HSBC maintained a 'Reduce' rating and set a target price of ₹24, about 37% below Monday's closing price. While brokerage sees improvements in battery manufacturing and localization positively, it flagged risks in brand strengthening and business execution. On October 5, the company’s board may discuss terms for a proposed rights issue up to ₹1,000 crore.
News18Hi Business·2h ago



