Ola Electric Mobility is in the spotlight after it paid off its debts to a company called Rosmerta Group. This payment led Rosmerta to drop its legal action against Ola Electric in Bengaluru. The issue has been solved, and Ola Electric is focused on keeping good relationships with everyone involved.
Previously, Rosmerta Digital Services, which makes secure number plates and helps with vehicle registration, sued Ola Electric for not paying them about Rs 18-20 crore. They asked the National Company Law Tribunal (NCLT) to start a process to resolve this issue.
Ola Electric’s Shares Outlook
Experts say that the average target price for Ola Electric’s shares is Rs 72, which means they could go up by 29% from their current price. Seven analysts recommend holding onto the stock. The stock’s strength index (RSI) is at 46.4, which shows it’s in an average range—not too high or too low.
Ola Electric shares are currently trading above their short-term moving averages (5-day, 10-day, and 20-day) but are below longer ones (30-day, 50-day, 100-day, and 150-day).
Recent Performance
On Monday, Ola Electric shares closed at Rs 55.7, dropping by 0.5% while the Sensex index rose by 1.4%. So far this year, the stock has dropped by 35% and by 46% in the last six months. The company is valued at Rs 24,577 crore.
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