Ola Electric Shares Fall 3.5%, Hit Record Low

Ola Electric’s stock tumbled 3.5% in Tuesday’s trade, hitting a fresh record low as investor sentiment weakened further. The company’s shares have been under pressure amid reports of restructuring and workforce reductions, with over 1,000 jobs expected to be cut as part of a cost-optimization strategy.

Since its IPO debut in August 2024, Ola Electric initially surged past ₹156 per share but has struggled to maintain momentum. The latest decline underscores challenges in the EV scooter market, where demand has softened and competition has intensified.

Key Highlights:

• Stock Performance: Shares fell 3.5%, touching a record low.
• Market Trend: Continued bearish momentum over the past five sessions.
• Cost-Cutting Measures: Reports of 1,000 job cuts to streamline operations.
• IPO Context: Stock has dropped sharply from its ₹156 debut price.
• Sector Outlook: EV scooter demand remains weak amid rising competition.

The fall highlights the volatility surrounding India’s EV sector, with Ola Electric facing pressure to balance growth ambitions with financial sustainability.

Sources: Reuters Market Updates, Goodreturns, Bloomberg