HSBC downgrades Ola Electric shares to hold, cuts target price to Rs 70

HSBC : Ola Electric shares rose 4.7% to Rs 68.27 on the BSE Wednesday, trimming recent losses. The stock is down 15% in three months and 13.44% in a week. HSBC noted persistent volume disappointments since the IPO due to quality and service issues. While improvements are underway and an EV motorcycle launch is planned, competition remains fierce.