Ola Electric shares fall 7.6% after Goldman Sachs 'Sell' call
Goldman Sachs downgraded Ola Electric to 'Sell' and cut its price target to ₹23, sending shares down as much as 7.6% to about ₹29. The brokerage doubts the company can reach positive cash flow given high interest costs and capex needs for its cell and E2W businesses.
- Price target cut to ₹23; shares fell to about ₹29
- FY27–29 revenue growth projections cut by up to 10%
- Company opened a ₹1,000 Cr rights issue
- Founder Bhavish Aggarwal pledged a 4.32% stake to fund participation
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