Ola Electric shares fall 4% despite margin optimism, as analysts flag PLI delays and EV sector slowdown risks.

• Ambit Capital is skeptical of margin gains due to captive cell plant delays and pending PLI scheme approval.
• Investec sees rising margins but warns of slower EV demand and intense competition dampening volume growth.
• Goldman Sachs highlights Ola’s EBITDA focus, but calls for clarity on execution, volumes, and market share targets.