Kotak Bank Share Price Live Updates: Kotak Bank's 3-Month Return Insights
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Mint
6 hours ago
- Mint
Ola Electric's profit push has been ignited. Now, volumes have to follow
Ola Electric Mobility Ltd's stock jumped 14% in the past two days after its June quarter (Q1FY26) results showed the clearest signs yet of operating discipline. Ola's auto business was Ebitda positive in June helped by stronger volumes, tighter cost control, and early gains from its vertically integrated setup. Q1FY26 consolidated revenues rose 35.5% sequentially to ₹828 crore, while deliveries climbed 32.7%. Gross margin rose to 25.8% in Q1FY26 from 13.8% in Q4FY25, leading to an improvement in Ebitda margin to negative 29% from negative 114% in the same period. Ola expects profitability to sustain and has guided for above 5% FY26 auto segment Ebitda margin after posting negative 11.6% margin in Q1FY26. FY26 vehicle deliveries are pegged at 3.25 lakh–3.75 lakh units, which could be a tall order. Kotak Institutional Equities is baking in 3.10 lakh units in FY26. Ola projects its gross margin to rise further to 35–40% as PLI-linked savings from its Gen-3 scooters kick in. It should be noted that Ola's Q1FY26 volumes declined 46% year-on-year despite the electric vehicle (EV) industry's two-wheeler volumes growing 7%. Kotak has cut its FY26-FY28volume assumptions to the tune of 12-16%, given lower growth assumptions for the EV two-wheeler industry and sustained below expected volume offtake performance. 'An increase in competitive intensity will continue to weigh on the company's market share," said Kotak in a report on 14 July. Moreover, execution risks persist. Ola's motorcycle rollout is still in early stages, with Roadster X in 200 stores and a national launch due by Navratri. While the initial response is positive, scale and further demand are untested. The company plans to launch a new product every quarter over the next two years. Ola plans to spend ₹300 crore over the remaining nine months of FY26, with ₹400–500 crore in free cash flow required to fund the auto business. It expects the auto segment to turn FCF-positive by FY26's end. For its cell business, Ola will invest around ₹1,000 crore to build a 5 GWh facility, which it expects to break even by FY27. Engineering bets continue as Ola's rare-earth-free motors are set to enter production in Q3FY26, with dual-sourced magnets added to reduce supply chain risk. For now, Ola's numbers suggest a turning point. But for this rally to evolve into a rerating, the company will need to show consistency on volumes, margins, and Securities and Capital Markets (India)analysts maintained their 'hold' rating and reckon the current valuation reflects all improvements.
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Business Standard
8 hours ago
- Business Standard
Wipro Q1 preview: IT giant to post muted sequential show amid demand woes
Wipro Q1 results preview: Information technology (IT) major Wipro is expected to post muted first-quarter earnings, in line with peers, amid weak demand and tariff uncertainty. The IT firm will report its earnings for the quarter ended June on July 17, Thursday. The tech major's revenue is expected to decline marginally by 1.7 per cent quarter-on-quarter to ₹22,121.30 crore, according to consensus estimates tracked by Business Standard. Amid a decline in margin, Wipro's bottom line is likely to slip over 9 per cent to ₹3,239.75 crore. However, on a year-on-year (Y-o-Y) basis, the top and bottom line is expected to rise by 0.72 per cent and 7.88 per cent, respectively. Weak demand and continued headwind in the European region countries will likely contribute to the weak quarter, analysts said. Currency tailwinds, along with aggressive cost management, will likely act as tailwinds for the company. Here's how analysts of various brokerages expect Wipro to fare in Q1: Motilal Oswal: The brokerage expects Wipro to report a 2.5 per cent constant currency (CC) revenue decline in its IT services business for the June quarter. It cited weakening client spending trends observed at the end of Q4 FY25 as the key driver behind the projected decline. Operating margins are expected to remain flat at around 17.5 per cent, with downside risks stemming from a subdued revenue environment and pricing pressures amid vendor consolidation. Regionally, Europe may continue to face headwinds due to ongoing client-specific challenges and project ramp-downs. However, Motilal Oswal notes that the execution of Wipro's new leadership strategy and the ramp-up of a major deal in the second half of the fiscal year could provide some relief. The brokerage also flagged potential risks around digital transformation projects, highlighting that some initiatives are being paused or having their timelines adjusted. Kotak Securities: Analysts expect the IT firm to report a 2.7 per cent sequential revenue decline in the June quarter, aligning with the midpoint of the company's guidance range of -1.5 to -3.5 per cent. The weak performance is likely driven by subdued demand and company-specific challenges in Europe, it said. Despite the revenue decline, Kotak projects stable Ebit margins, supported by aggressive cost control measures and favourable currency movements. The brokerage anticipates strong large deal wins, with total contract value (TCV) estimated at $1.2-1.3 billion. For the September 2025 quarter, Kotak expects the company to guide for revenue growth in the range of (-)1 to (+)1 per cent. ICICI Securities: The brokerage expects Wipro to report a 2.6 per cent Q-o-Q decline in constant currency (CC) revenue. The revenue is expected to be impacted by the bankruptcy of Marelli, which could affect nearly 20 days of business in the quarter, it said. The large Phoenix deal announced in Q4FY25 is projected to begin ramping up from Q3FY26, offering a potential growth lever in the second half of the fiscal year. Discretionary spending remains weak, with clients holding back amid ongoing uncertainty around global trade tariffs. However, the deal pipeline remains healthy across key verticals, including banking, financial services and insurance (BFSI), healthcare, and technology. The brokerage expects a 67 basis points sequential decline in Ebit margins, primarily due to the fall in revenue.
News18
9 hours ago
- News18
Ola Electric Shares Dip 3% On Profit Booking After Q1 Results: Buy, Sell or Hold?
Ola Electric Mobility's shares slipped 3.08% to Rs 45.63 on Tuesday as investors booked profits after an 18% surge in the previous session Ola Electric Shares Dip: Ola Electric Mobility's shares slipped 3.08% to Rs 45.63 on Tuesday as investors booked profits after an 18% surge in the previous session. The pullback trimmed gains from the recent rally that followed the company's Q1FY26 results. The EV maker reported a consolidated net loss of Rs 428 crore for the June quarter, widening 23% year-on-year. While the loss exceeded the previous year's figure, it was narrower than expectations set by Kotak Institutional Equities. The firm, however, maintained its 'SELL" rating with an unchanged fair value of Rs 30, citing industry headwinds and subdued volume growth. Ola posted revenue of Rs 830 crore, down 50% YoY but up 36% sequentially, primarily due to backlog clearance from Q4FY25. Kotak noted that Ola's Q1 registrations stood at 60,000 units while deliveries were 68,000, reflecting the inventory spillover. Despite reporting an EBITDA loss of Rs 240 crore—better than the Rs 290 crore loss projected by Kotak—the brokerage flagged concern over weak demand and rising competitive pressure in the electric two-wheeler market. The gross margin improved, aided by a shift to Gen-3 products and tighter cost controls. Kotak cut its FY26–28 volume assumptions by 12–16%, forecasting just 3.1 lakh units for FY26 against Ola's guidance of 3.25–3.75 lakh units. It warned that the muted industry growth and intensifying competition could hinder Ola's market share and profitability goals. Future performance, Kotak added, will depend on the success of cost optimisation efforts under 'Project Lakshya', and the operational ramp-up of its 5 GWh Gigafactory, which could serve as a key upside trigger. However, persistent challenges in the EV sector keep the brokerage cautious on the stock's long-term outlook. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
