Ola Electric falls as HSBC keeps reduce rating
In short
Ola Electric shares fell more than 4% after an analyst kept a “reduce” rating and saw 37% downside. HSBC also said the Giga Factory is speeding up battery manufacturing and localisation.
The report says battery yields could rise from around 70% to about 90% in six to nine months. It does not say the target price or what will happen next to the stock.
What the reporting says
Ola Electric shares fell over 4% after an analyst retained a 'reduce' rating and flagged 37% downside, while HSBC said the company’s Giga Factory is accelerating battery manufacturing and localisation. The summary adds that HSBC expects battery yields to improve from around 70% now to about 90% over the next six to nine months. The immediate effect was pressure on the stock, though the report does not say whether the target price changed.
Why it matters
Ola Electric shares fell over 4% after HSBC retained a 'reduce' rating and said it sees 37% downside. HSBC also said the company’s Giga Factory is accelerating battery manufacturing and localisation and expects battery yields to improve from around 70% to about 90% over the next six to nine months. The market reaction was negative, but the reporting does not say whether the valuation view or target price changed.