Business

Ola Electric’s Share Hits All-Time Low Of Rs 74 Ahead Of Q2 Results

Ola Electric Mobility’s stock, led by Bhavish Aggarwal, dropped sharply on Tuesday to a new low of Rs 74.18 per share. The stock briefly touched Rs 73.84 in intra-day trading, marking an 8.5% decline in a single day. Since its all-time high of Rs 157.47, Ola Electric’s shares have plunged 53.2%.

Market Experts Warn of Further Slump

Analysts predict that the stock could drop closer to the Rs 70 mark. Ola Electric debuted on the stock market at Rs 76 and saw a brief rally before a continuous decline. Market experts advise caution, calling the stock a “no-trade” zone and recommending that investors focus on stocks with strong fundamentals. They believe sustained selling pressure could push shares even lower if prices stay below the IPO value of Rs 76.

Weak Sales and Service Impact Stock Performance

Ola Electric’s financial performance has raised concerns ahead of its Q2 FY25 results, scheduled for November 8. According to analysts, the company’s weak sales and service quality have impacted investor confidence. Institutional and retail investors may continue to sell if the stock remains below its IPO price, adding further pressure to the EV maker’s shares.

Also Read: RBI Reports 98.04% Of Rs 2000 Banknotes Returned Since Withdrawal Announcement

Ajaypal Choudhary

Recent Posts

Parag Jain Appointed New RAW Chief; 1989-Batch IPS Officer To Succeed Ravi Sinha

The Central government has named senior IPS officer Parag Jain as the new head of…

5 hours ago

Avinash Bhosale Sold ₹1,432 Crore London Hotel While In Custody; ED And CBI Probe Raises Alarms

In a twist in the Yes Bank–DHFL scam, Avinash Bhosale sold a ₹1,432.5 crore London…

6 hours ago

Bihar Signs Mou With AAI To Develop Six Regional Airports Under Udan Scheme

The Government of Bihar on Sunday signed a MoU with the Airports Authority of India…

6 hours ago

Rajasthan Sees Growing Demand For Extension Of Acting DGP Ravi Prakash Meharda

Ravi Prakash Meharda’s routine appointment as Rajasthan’s Acting DGP on 10 June has turned into…

7 hours ago

Paresh Rawal Confirms Return To Hera Pheri 3 After Legal Settlement With Akshay Kumar

Veteran actor Paresh Rawal has confirmed his return to Hera Pheri 3, following a legal…

8 hours ago

Adani Group & ISKCON Serve Nutritious Prasad To Pilgrims During Puri Rath Yatra 2025

This year’s Jagannath Rath Yatra in Puri witnessed a profound act of service as the…

8 hours ago