Ola Electric Slides Over 7% After Bearish Call From Goldman Sachs

by · Inc42

SUMMARY

  • Shares of Ola Electric crashed as much as 7.6% to hit an intraday low about ₹29 on the BSE today (October 23) after a bearish outlook from Goldman Sachs
  • A day after the company opened its ₹1,000 Cr rights issue, Goldman Sachs downgraded its outlook on Ola Electric to “Sell”
  • It foresees a challenging path for Ola Electric to become cash flow positive given the relatively high interest cost and capex needs of the cell and E2W business