New Delhi, Oct. 24 -- Goldman Sachs Ola Electric downgrade: Goldman Sachs has turned bearish on Ola Electric Mobility, cutting its rating to Sell and reducing its price target sharply, as mounting concerns over cash flow, funding requirements and operational challenges cloud the electric two-wheeler maker's recovery prospects. The global investment bank has warned that the company faces a difficult path towards generating positive free cash flow, with high interest costs and substantial capital expenditure requirements adding to the pressure.

Goldman Sachs lowered its target price to Rs.23 from Rs.39.28, implying a downside of 23% from Ola Electric's previous closing price of Rs.29.93. The brokerage also reduced its revenue estimates for...