Overview
- Ola Electric, which slid Monday during a broad sell-off, touched ₹37.71 at the intraday low as profit-taking followed a sharp run-up.
- The retreat came after a 60%‑plus jump earlier in April that followed news of an in‑house 46100 Lithium Iron Phosphate battery cell and fresh PLI certification for a new model.
- Reporters flagged weak recent results as a stress point, noting a ₹487 crore quarterly net loss, revenue down 55% year on year to ₹470 crore, and a gross margin of 34.3%.
- Operational updates remained upbeat, with a plan to lift its cell Gigafactory to 6 GWh from 2.5 GWh and to start using the new 46100 LFP cell in products from Q2 FY27.
- The sector split was stark as rival Ather Energy hit an intraday record near 10% higher after outlining steps to cut aluminum use and boost recycled content to lower engineering costs by about 15% on its next platform.