Ola Electric Share Price : Bhavish Agarwal’s Ola Electric is seeing a decline again. Currently the share price is also below the issue price. When the company was listed in the market, the stock had shown a big jump but now the situation is such that in 8 months, the share price has decreased by less than half. Investors who bought shares 8 months ago have suffered big losses.
The share of Ola Electric has given investors huge losses in 8 months. The highest value of the stock in 52 weeks was Rs 157.53. This value was on August 20. Now its price is Rs 52.44. That means, in less than 8 months investors have lost about 67%. This figure is more than half. After being listed on the stock market on August 9, the share of Ola Electric rose very quickly. In a few days, it reached Rs 157.53. The stock hit a high in just 11 days of listing. But after that it began to decline. The stock has not reached its previous high yet.
Ola Electric Share Price Today
What is the real cause of the fall?
The main reasons for the decline in Ola’s stock are considered to be the company’s problems. Last year, there were reports of several problems in Ola’s scooter. People were having many difficulties in servicing scooters. When there were some problems with the scooter, it took several months to fix them at the service center, such complaints were coming.
Kunal Kamra’s posts and controversies
In this context, Kunal Kamra had made several posts on the social media platform ‘X’. He posted several photos and videos about the company’s poor service. This had also led to some disputes between Kunal Kamra and Bhavish Agarwal. That led to a big drop in Ola’s stock. Kunal Kamra had posted some photos and videos on ‘X’ criticising Ola’s servicing.
Recently, the company’s shares declined further due to a subcompany of the company filing an application for bankruptcy. Rosmerta Digital, a high-security number plate maker, has accused the Ola electric mobility sub-company of not paying Rs 18-20 crore. Rosmerta Digital says Ola Electric Technology Pvt Ltd has not given them Rs 18-20 crore.
Earlier, the transport department had raided several showrooms of the company. Due to lack of trade certificates, many showrooms were closed and vehicles were impounded. Along with this, the transport department had also issued a show cause notice to the company. In short, the position of the share of Ola Electric is currently fragile. Investors are suffering losses. The stock price is falling due to the company’s problems.
Disclaimer: This article is just for information. It should not be treated as investment advice in any way. Investing in the stock market is based on risk. Be sure to consult your financial advisor before investing in the stock market.
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