After a bad week at Dalal Street, Ola Electric shares picked themselves up, riding high or medium-high on the wave of optimism powered by their all-important Q2 results.
Optimism Runs Out of Fuel
The wave of optimism, perhaps, could not have been more short-lived, as the share value closed the new trading with an even smaller cumulative number. On November 11, Ola shares surged by more than 5 per cent. starting the week with bang.
The results that were declared at the end of the previous week had the potential to bring about some cheer, which it almost did.
Here is our Q2 FY25 Report: https://t.co/6NeL10U8NY
— Bhavish Aggarwal (@bhash) November 8, 2024
Important quarter for the industry! Some highlights:#MarketLeadership
We have maintained our market leadership with 33% market share during Q2 FY25 despite aggressive competitive action. We’re expanding distribution to 2,000… pic.twitter.com/WPLpxzi53h
Ola Cuts Losses In Q2
For start-ups like Ola, turning profitable and diminution of its net losses. This is something the Bhavish Aggarwal-led company managed to do in the second quarter of FY25. The Bengaluru-based company narrowed its losses to Rs 495 crore. In addition, it also paved the way for a rise in revenue of 39 per cent (year-on-year).
The aforementioned surge in the performance of the company shares listed on the National Stock Exchange (NSE) riding on these figures drove some optimism in the market, along with giving some comfort to company chief Bhavish Aggarwal.
The fever came down pretty quickly, as the company shares dipped further. It closed for the week's trade with cumulative value, lower than the price that was demanded a week ago.
Another Week Of Decline At Dalal Street
On November 8, when the trading week came to a close, Ola Elctric shares closed at Rs 72.67.
As another trading week came to a close, the story was no different. The cumulative value of the electric scooter maker stood at Rs 69.90 per piece, thanks to a decline of 1.83 per cent or Rs 1.30, in the matter of just 5 trading sessions.
This once again has maintained the cumulative loss of the share price in a one-month period to just over 20 per cent. The company shares were listed on the NSE at Rs 76 per share in August.
After a surge in the first few weeks, the company shares have seen consistent periods of decline, attributed to factors including product quality and customer assistance and servicing capabilities.