HSBC raises Ola Electric target price to Rs 49 but sticks with hold rating. What’s behind the caution?
HSBC Global Research has raised its target price on Ola Electric Mobility to Rs 49 from Rs 45, while maintaining a “hold” rating on the stock following a better-than-expected gross margin performance in the company’s first-quarter results. The brokerage said it remains cautious about long-term margin headwinds stemming from uncertainties around government incentives for battery…