Ola Electric Shares Hit 52-Week Low; Brokerage Downgrades to 'Sell', Cuts Target Price

• Ola Electric shares plunged 6% to a 52-week low of 28.81 rupees, wiping out over 52% of capital in a year.
• Q3 revenue dropped 55% YoY and 32% QoQ, with a net loss of 490 crore rupees, eroding investor confidence.
• Emkay Global downgraded Ola Electric from 'Buy' to 'Sell' and slashed its target price by 60% to 20 rupees.
• Sales volume fell 61% YoY and 38% QoQ to 32,000 units, raising concerns about market share despite EV sector growth.
• Company shifted from 'net cash' to 670 crore rupees net debt; faces pressure from Ather Energy, TVS Motor, and Bajaj Auto.