Ola Electric Q4 FY26 loss narrows, stock slides 6%

What moved the stock today

Ola Electric Mobility Ltd shares came under pressure after the company reported its financial results for the fourth quarter of FY26, even as its net loss narrowed to Rs 500 crore. In early trade, the stock slumped over 5% and remained weaker than the broader market. On the BSE, the share price fell 5.7% to an intraday low of Rs 34.83. At 9:24 AM, it was down 3.9% while the BSE Sensex was up 0.4%, highlighting stock-specific selling.

Q4 FY26 results: improvement, but still weak sentiment

The company’s Q4 FY26 print was described as showing signs of operational improvement, including better gross margins, operating efficiency and cash flow, but the market response stayed negative. Another update cited the stock dropping 4.36% to Rs 35.33 after what was described as a weak Q4 FY26 performance despite those operational improvements. The key headline number in the provided information was the narrowing of net loss to Rs 500 crore for the quarter.

Brokerages: more target revisions, ratings still cautious

Broker commentary stayed largely negative despite some upward revisions to target prices.

Citigroup raised its target price on Ola Electric Mobility to Rs 26 from Rs 22, but maintained a “Sell” rating. Citi said the company still lacks the volume growth needed to improve profitability, despite gains in margins and operating metrics.

Emkay Global Financial Services retained its “Sell” recommendation while raising its target price to Rs 25 per share from Rs 20. Emkay attributed the higher target mainly to stronger industry growth assumptions rather than company-specific optimism.

Street positioning: what analyst tallies show

Analyst positioning was also cited through multiple data sources.

According to Bloomberg data referenced in the provided text, eight analysts track the stock, with two “hold” calls and six “sell” calls.

Trendlyne data (as reported by ET) showed a “Hold” consensus based on inputs from seven analysts: two “Strong Sell”, one “Sell”, two “Hold”, one “Buy”, and one “Strong Buy”. The average 12-month price target cited there was Rs 59, implying about 35% upside from Tuesday’s closing price of Rs 43.23.

Price action across sessions: new lows and sharp drawdowns

The stock’s recent tape has been volatile, with repeated mentions of fresh lows and heavy medium-term losses.

In one session, Ola Electric shares continued declining, down 5.5% during the session to a new low of Rs 31.11. In another move cited, the stock slipped 1.49% on Thursday to close at Rs 25.17, after a single-day gain in the previous session. It was also noted as trading just above its lifetime low of Rs 25.02, and having plunged 50.45% over the past six months.

Separately, the shares were reported to have fallen more than 5% to hit an all-time low of Rs 36.12 on December 4, with the text noting the stock had more than halved from its IPO price of Rs 76 per share. Another data point said the stock was down around 52% from its IPO and listing price of Rs 76, and had fallen nearly 13% in five days, around 28% in one month, and more than 58% in 2025 so far.

The stock’s longer arc also includes a sharp peak-to-trough move: it was reported to have plunged to Rs 43.16 on the NSE, a 72% fall from its all-time high of Rs 157.40 on August 20, 2024.

Key levels from technical analysts

Multiple technical commentators flagged weak momentum and limited buying interest.

Osho Krishan of Angel One said the stock has seen a significant decline and is trading around an all-time low amid persistent selling pressure. He identified Rs 22-24 as a crucial support zone, with resistances around Rs 30-32 and Rs 35-38 in the short term.

AR Ramachandran of Tips2trades said the stock looked slightly bullish on daily charts with strong support at Rs 24.82, and that a daily close above Rs 26.4 could lead to an upside target of Rs 29.

Jigar S Patel of Anand Rathi said support was seen at Rs 24 and resistance at Rs 27, adding a decisive move above Rs 27 could push the stock toward Rs 29, with a short-term range of Rs 24 to Rs 29.

Other technical views in the text were more cautious, describing the setup as negative, the stock trading below major moving averages, and suggesting a “sell-on-rise/avoid fresh longs” approach until key levels are reclaimed. Another level cited was Rs 42-44 as a near-term psychological resistance, with support around Rs 24-25.

Company-specific event: Bombay High Court relief

The stock was also reported to have risen in a separate episode after the Bombay High Court stayed an arrest warrant issued against CEO Bhavish Aggarwal. The development was described as easing investor concerns after a four-session decline.

Earnings context: FY25 Q4 stress and a steep revenue drop

Older quarterly numbers cited in the provided text underline the pressure the business has faced. For Q4 FY25 (January-March 2025), the consolidated net loss widened to Rs 870 crore from Rs 416 crore a year earlier. Revenue from operations slumped 59.48% year-on-year to Rs 611 crore in Q4 FY25 compared with Rs 1,508 crore in the year-ago period.

The text also referenced Q3 FY26 results, noting a reduced net loss but a substantial revenue decline, without providing exact figures.

Summary table: key figures and levels cited

Why the divergence matters: operations vs volume and cash flow worries

The consistent theme across brokerage notes in the provided text is that operational metrics may be improving, but analysts are not convinced about volume growth and the durability of the turnaround. Citi explicitly linked profitability improvement to the need for volume growth, even while acknowledging margin and operating metric gains. Another brokerage note cited by ET Now flagged weak EV penetration, market-share losses, and cash flow concerns when Citi downgraded the stock to Sell and cut its target price by 51% in that episode.

Conclusion

Ola Electric’s Q4 FY26 result showed a narrower net loss of Rs 500 crore, but the stock still fell sharply, reflecting continued scepticism on volumes, profitability path and technical weakness. With multiple brokerages maintaining Sell calls and several technical analysts highlighting nearby support zones around the mid-20s, the stock is likely to remain closely watched for any confirmed improvement in earnings and sales performance.