Ola Electric IPO gets steady response on Day 1. Here's what top brokerages say
Here's what top brokerages have to say on the biggest IPO of this year:
Geojit Financial
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-112239133»>Benefiting from government incentives and a scalable model, Ola Electric is well-positioned to leverage India’s EV market and explore international opportunities. Despite current profitability challenges and valuation concerns, the brokerage recommends a ‘subscribe’ rating for high-risk investors with a long-term outlook.
Anand Rathi
Ola has significant headroom to grow in coming years, led by favourable market conditions, regulatory norms and the higher capacity utilisation of Ola Future Factory on yearly basis, said the brokerage while recommending a ‘subscribe’ for long-term investors.
Incred Equities
Incred said it is constructive on IPO. However, quarterly volatility from policy, EV cell plant delay penalty risk and regular PE share sale may limit stock price gains.
LKP Securities
The brokerage believes Ola to run the tide being the only pure play two-wheeler electric vehicle maker. Therefore, keeping an eye and a cautious view on the demand and thereby the reduction in losses for Ola, it recommends subscribing to this IPO with a long term perspective.
BP Wealth
On account of a positive EV market outlook, favourable regulatory environment, large quantum of fresh issues in the IPO, announcement of new models along with the upcoming cell manufacturing unit (Gigafactory), the brokerage has a positive view for the company from a medium- to long-term perspective. We, therefore, recommend a subscribe rating for
