Ola Electric Shares Hit Fresh Lifetime Low; What Next For Shareholders? Should You Sell? See Brokerages' View

Ola Electric Mobility Limited, one of India's leading electric two-wheeler manufacturers, has been under intense market pressure, with its shares hitting a fresh lifetime low on February 17, 2026, following weak quarterly results and multiple brokerage downgrades.

Ola Electric Share Price Today

The stock plunged nearly 5 percent during the morning session on Tuesday, touching a new all-time low. At around 12:15 PM IST on the National Stock Exchange (NSE), Ola Electric shares were trading at Rs 28.00, down Rs 0.83 or 2.88 percent from the previous close of Rs 28.83. The stock opened at Rs 28.69 and slipped to an intraday low of Rs 27.36, reflecting sustained selling interest.

The sharp decline comes after global and domestic brokerages revised their ratings downward, further dampening investor sentiment.

What's Next for Ola Electric Shareholders?

With back-to-back downgrades and sharply reduced target prices, near-term sentiment around the stock remains weak. Analysts believe that stabilisation in volumes, recovery in market share and improvements in after-sales service will be crucial for any meaningful turnaround.

While India's long-term EV opportunity remains intact, Ola Electric shareholders may continue to face volatility in the short term.

Should You Sell Ola Electric Stocks? Brokerages Cut Ratings, Slash Target Prices; Check Recommendations

Emkay downgraded the stock to 'Sell' from 'Buy' and slashed its target price by 60 percent to Rs 20 from Rs 50 earlier. "We downgrade Ola to SELL from Buy and cut our TP by 60% to Rs 20 from Rs 50. Ola logged a weak Q3, with revenue down 55% YoY on a 61% YoY volume drop," the brokerage said in its report.

Despite the downgrade, Emkay maintained that the broader electric two-wheeler (E2W) theme remains structurally strong. The industry has witnessed healthy year-on-year growth of 33 percent and 24 percent in January and February 2026, respectively, with a revival in penetration following a dip linked to GST cuts.

The brokerage added that a potential strategic stake sale in the company's battery business, resulting in a meaningful cash infusion, could offer upside risk. It said it prefers exposure to the E2W theme through other players such as Ather, TVS Motor and Bajaj Auto.

Meanwhile, Citi also downgraded the stock to 'Sell' from 'Buy' and reduced its target price by 51 percent to Rs 27 per share from Rs 55 earlier. The revised target implies further downside from the previous closing price of Rs 28.83.

Citi cited slower-than-expected EV penetration in India's two-wheeler segment. It noted that GST cuts on internal combustion engine vehicles have narrowed the price gap between EVs and traditional vehicles, slowing the pace of electrification.

The brokerage also highlighted market share losses driven by service-related challenges, intense competition and weak customer perception, adding that the Q3 performance came in below estimates due to negative operating leverage.

Ola Electric Q3 Results FY26 Highlights

Bhavish Aggarwal led Ola Electric reported consolidated revenue from operations of Rs 470 crore for Q3 FY26, marking a sharp 55 percent year-on-year decline from Rs 1,045 crore in the corresponding quarter last year.

Deliveries during the quarter fell 61 percent YoY to 32,680 units, compared with 84,029 units a year ago. While the adjusted operating EBITDA loss narrowed 34.6 percent to Rs 323 crore, net loss stood at Rs 487 crore, lower than Rs 564 crore reported in the year-ago period.

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