Ola Electric Mobility Share Price can go up to Rs 131 if it crosses Rs 118, understand the analysis
Ola Electric Share Price
Ola Electric Mobility Ltd (NSE: OLAELEC) saw its share price rise by 4.61% on Monday, September 9th, 2024, closing at Rs 113.99 on both the NSE and BSE. The company’s market capitalization currently stands at Rs 48,365 crore.
Main Points
Over the past 52 weeks, Ola Electric Mobility’s share price has reached a high of Rs 157.53 and a low of Rs 75.99. The company’s all-time high share price is also Rs 157.53, which was recorded on August 20th, 2024.
Ola Electric Mobility’s Financial Performance
For the quarter ended June 30th, 2024, Ola Electric Mobility reported a consolidated loss of Rs -6.00 crore on a total income of Rs 28.00 crore. For the year ended June 2024, the company had posted a loss of Rs -347.00 crore on a total income of Rs 1,718.00 crore.
Ola Electric Mobility’s Key Corporate Actions
Ola Electric Mobility recently announced the dispatch of a postal ballot notice dated August 31st, 2024, seeking shareholder approval for amendments to its OEM Employees Equity Linked Incentive Plan 2019 and the extension of benefits to employees of subsidiary and group companies.The company also received certification for compliance with the eligibility assessment requirements under the Production Linked Incentive (PLI) Scheme for the automobile and auto component industry.
Ola Electric Mobility’s Peer Comparison
Some of Ola Electric Mobility’s top peers in the Auto sector include Eicher Motors, Hero Motocorp, Ashok Leyland, Escorts Kubota, Olectra Greentec, and Force Motors.
Key changes to Ola Electric Mobility’s shareholding pattern are as follows:
- Promoters hold a significant stake in the company
- Institutional investors, including mutual funds and foreign portfolio investors, also hold a substantial portion of shares
- Retail investors account for a smaller percentage of the company’s shareholding
Analysts’ Outlook on Ola Electric Mobility
Analysts have a mixed outlook on Ola Electric Mobility’s future prospects. Some believe the company’s strong market position and growth potential make it an attractive investment, while others are concerned about its high valuation and profitability challenges.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
