Two days after SoftBank’s sales, Ola Electric fell 12%; that’s what Anil Singhvi thinks
Today’s Ola Electric stock: Ola Electric Mobility Ltd. shares continued to decline on Friday, down 6% to Rs 60.58, extending its two-day decline to 12%. The fall came just a few days after the stocks were rallied quickly, despite positive comments from market experts and brokers around the world.
Between August 22 and September 3, Ola Electric shares soared 46%. But the recent sell-off diluted some of it. Now, the stock has dropped in three of the last five trading courses and is again below its IPO price of Rs 76.
Anil Singhvi calls Ola Electric to “buy” phone
Market expert Anil Singhvi views Ola Electric as a short-term trading opportunity and advises traders to consider buying on declines. He suggested stop loss at Rs 67, Rs 69 and Rs 71 with a target of Rs 63 and with technical support and ongoing retail interest. But the wider sentiment around the stock became cautious after key shareholders unloaded a portion of their holdings.
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SoftBank cuts Ola Electric’s shares
In a regulatory filing, SoftBank investment arm SVF II Ostrich (DE) LLC revealed that between July 15 and September 2, it had sold 94.9 million shares, or 2.15% of Ola Electric. After the transaction, Softbank’s shares have dropped from 17.83% to 15.68%.
Goldman Sachs remains optimistic about Ora Electric
Global brokerage Goldman Sachs remains constructive about the stock. It maintains its “buy” rating and builds on recent implementation improvements and stronger product visibility to raise its target price to Rs 72.
Goldman Sachs highlighted OLA’s recent PLI (incentives linked to production) certification for its Gen 3 electric scooter, and the company’s plan to launch a new Performance Scooter model early next year. It said these developments will benefit Aula from India’s growing demand for electric vehicles.
Battery Plan Trim
In terms of manufacturing, Ola Electric has made significant changes to its battery production targets – the target now is 5 GWH capacity, down from the 20 GWH target by 2030.
Retail investors remain stable
As of June 2025, more than 16.5 million retail investors held the stock, accounting for 13.94% of the company’s equity. The stock went public at Rs 76 per share in its August 2024 IPO, soaring to Rs 157 before falling to Rs 39.6 in July this year before making its recent comeback.
