Goldman Sachs Downgrades Ola Electric to Sell with Target Price of ₹23

Goldman Sachs downgraded Ola Electric Mobility to Sell and cut its price target to ₹23 from ₹39.28, citing cash flow and operational concerns.

The brokerage reduced FY27-FY29 revenue estimates by up to 10% and warned of prolonged operating losses and high interest costs.

The electric two-wheeler maker recently finalized a ₹1,000-crore rights issue at ₹27 per share, as its September market share fell to 6.5%.