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%.
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.
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
India concluded its Asian Para Games 2026 campaign in Aichi-Nagoya with a record 114 medals,…
External Affairs Minister S Jaishankar met African Heads of Mission in New Delhi to explore…
India T20I captain Shreyas Iyer praised Tilak Varma, Nitish Kumar Reddy and Naman Dhir after…
Make Diwali sweeter with five easy chocolate recipes for kids, including crunchy chocolate bites, date…
Former President Ram Nath Kovind attended the 1,225th staging of Jaanta Raja in Ghaziabad, praising…
Union Home Minister Amit Shah extended Raising Day greetings to ITBP personnel, praising their courage…