{
  "id": 16171074,
  "title": "Ola Electric Slides Over 7% After Bearish Call From Goldman Sachs",
  "url": "https://urgent.news/2026/10/23/ola-electric-slides-over-7-after-bearish-call-from-goldman-sachs",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-23T09:01:11.000Z",
  "source": {
    "name": "Inc42",
    "slug": "inc42",
    "url": "https://inc42.com/buzz/ola-electric-slides-over-7-after-bearish-call-from-goldman-sachs/"
  },
  "original_language": "en",
  "account": "Ola Electric's shares plummeted by up to 7.6% on October 23 after Goldman Sachs issued a bearish outlook on the electric two-wheeler manufacturer. The brokerage firm downgraded its rating on Ola Electric to \"Sell\" and revised the stock's price target downwards to ₹23, citing the company's challenges in becoming cash flow positive due to high interest costs and capital expenditure needs. The downgrade also saw Ola Electric's revenue growth for FY27-29 projected to decrease by up to 10%. The bearish sentiment follows the company's rights issue launch, where Motilal Oswal and Calliope Capital Advisors jointly applied for 2.39 Cr shares, representing a significant portion of the entitlements from two promoter groups, ANI Technologies and Indus Trust. Bhavish Aggarwal, Ola Electric's founder and CMD, pledged a 4.32% stake to contribute towards the company's proposed rights issue of up to ₹1,000 Cr. The funds raised will primarily be used to reduce debt and support business expansion, with ₹350 Cr allocated to debt repayment and ₹400 Cr earmarked for organic growth in Ola Electric's mobility and energy storage ventures. Ola Electric has yet to release its Q2 FY27 earnings results, but Q1 FY27 saw a net loss reduction of 22% to ₹336 Cr from ₹428 Cr in the previous year. Operating revenue declined 45% to ₹455 Cr from ₹828 Cr in the same period. The stock has ended in losses for six consecutive sessions and has lost over 20% of its value in the past month.",
  "summary": "Shares of electric two-wheeler maker Ola Electric crashed as much as 7.6% to hit an intraday low about ₹29 on…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}