Ola Electric Shares Plunge 25% in 10 Days Amid CFO Resignation, Sales Woes
Business
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Moneycontrol•20-01-2026, 14:14
Ola Electric Shares Plunge 25% in 10 Days Amid CFO Resignation, Sales Woes
- •Ola Electric's shares dropped over 8% today, reaching a one-month low, and have fallen 25% in 10 trading days.
- •The sharp decline follows the resignation of CFO Harish Abichandani due to personal reasons; Deepak Rastogi has taken over.
- •The company faces challenges from falling sales and increased competition from Bajaj Auto and TVS Motor.
- •Ola Electric recently received BIS certification for Ola Shakti, its residential BESS solution, which could be a positive development.
- •Shares, issued at ₹76 in August 2024, hit a high of ₹157.53 but have since fallen significantly to ₹33.07.
Why It Matters: Ola Electric's stock is under pressure due to a CFO change, sales decline, and market competition.
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