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Ola Electric Shares Plunge Amid Sales Decline

  • Ola Electric shares fell by 6.8% to INR 81.01 during intraday trading on BSE.
  • The stock has dropped about 48.1% from its record high of INR 157.53 on August 20.
  • This slump is due to consecutive monthly declines in sales and rising complaints about after-sales service.
  • Ola Electric's escooter registrations dropped 11% month-on-month to 23,965 units in September.
  • Despite this, brokerages like Goldman Sachs and BofA Securities maintain a buy rating on the stock.

Source: Inc42

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Top comments
user

“4th Largest EV company in the world excluding china” - Bhavish Bhai

user

dont even know why it had the run up

user

Ather is way more better than ola