Ola Electric Shares Fall 9%, Market Value Drops

Shares of Ola Electric Mobility Ltd fell sharply on Tuesday, dropping as much as 9% from the day’s highest price. This decline reversed the gains the stock had made during a three-day rally earlier.

Despite the fall in price, trading activity in Ola Electric shares remained strong, with volumes reaching nearly half of the combined turnover seen on Friday and Monday.

The stock is now trading around 73% below its post-listing high of ₹157 per share. It is also approximately 44% below its initial public offering (IPO) price of ₹76 per share.

This decline has reduced Ola Electric’s market value to below ₹19,000 crore, raising concerns among investors about the company’s performance in the stock market since listing.

Market analysts say the sharp drop shows that investors are cautious about the company’s growth prospects, even though Ola Electric continues to expand in the electric vehicle sector.