Mumbai: Ola Electric Mobility’s shares have dropped roughly 80% from their high after the company went public, and the decline has carried on for seven straight trading days. The slump has been fueled by strong selling pressure, tepid guidance, and technical weakness that pushed the stock well below its offering price, sparking fresh worries among investors.
The price is now more than half its initial value of ₹76 per share. At market close, the shares were down ₹1.09, a 3.1% fall, trading at ₹34.41. Within the day, they slipped 4%, extending the losing streak to a seventh session. Out of the last 25 days, the stock has moved higher only five times, underscoring the ongoing selling pressure.
Market‑cap has slipped under ₹15,000 crore from the peak of over ₹65,000 crore seen right after listing. Trading volume was unusually high this week, with over 6 crore shares exchanged during the day—well above the 20‑day average of 1.6 crore.
Analysts point out that the company has faced headwinds since early November when the stock broke key moving‑average levels and has hovered below them ever since. Market‑share data from VAHAN shows that Ola Electric captured just 6.7% of the market at the start of December, a figure that continues to concern investors.
On a brighter note, the firm reported in an exchange filing that it has begun mass deliveries of its 4680 Bharat Cell‑powered vehicles, which should deliver better range, performance and safety. However, the company’s outlook remains muted; it sharply cut its full‑year revenue forecast after Q2 to between ₹3,000 and ₹3,200 crore, down from an earlier estimate of ₹4,200 to ₹4,700 crore.
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