Ola Electric shares extend slide; stock crashes over 62% in six months; analysts remain bearish

Shares of Ola Electric Mobility Ltd extended their decline for the fourth consecutive session on Monday. The stock was last seen trading 3.12 per cent lower at Rs 22.38, taking its six-month fall to 62.27 per cent.

The pure-play electric vehicle (EV) maker has recently rolled out limited-period benefits worth over Rs 20,000 for customers purchasing a new Ola S1 scooter or Roadster motorcycle. Available until March 16, 2026, the company said the offers include a Rs 10,000 cash discount and an extended 8-year battery warranty valued at up to Rs 15,000.

On the financial front, Ola Electric reported a narrower consolidated net loss of Rs 490 crore for the December 2025 quarter (Q3 FY26), compared with a loss of Rs 560 crore in the preceding September quarter. However, revenue from operations declined sharply by 55 per cent year-on-year (YoY) to Rs 470 crore from Rs 1,045 crore in the corresponding quarter last year.

The company's EBITDA loss stood at Rs 271 crore, though it narrowed on a YoY basis.

From a technical perspective, analysts largely maintained a bearish outlook on the stock's near-term trajectory.

Ravi Singh, Chief Research Officer at Mastertrust, said the counter looked weak on charts and could slip towards the Rs 20 level in the near term. He suggested investors consider exiting at current levels.

Kunal Kamble, Senior Technical Research Analyst at Bonanza, said, "The stock has been trading in a strong downtrend, indicating sustained selling pressure. A breakdown below Rs 22 could trigger further downside towards Rs 20. On the upside, immediate resistance is seen near Rs 26, followed by the Rs 30–32 zone, where previous breakdown levels exist. Until the stock sustains above Rs 30, any pullback is likely to face selling pressure."

AR Ramachandran, a Sebi-registered research analyst at Tips2trades, said, "Ola Electric is bearish and oversold on daily charts, with the next support seen at Rs 21.80. Investors should consider fresh buying only if the stock closes above the resistance level of Rs 26.3 on a daily basis, which could open the door for a near-term target of around Rs 31."