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
Parliament approved the Immigration and Foreigners Bill, 2025, on Wednesday, which aims to regulate the…
Prime Minister Narendra Modi headed for Bangkok on Thursday to attend the 6th BIMSTEC Summit…
The Delhi High Court has stayed the appointment of Anilkumar Prabhakaran as the General Secretary…
The Delhi High Court will hear the bail plea of former AAP MLA Naresh Baliyan…
The Supreme Court has granted a major relief to the Rajasthan government by upholding the…
The Supreme Court has expressed concern over the rising tendency to register rape cases based…