Ola Electric Stock Plunges 26% in 10 Days: What Should Investors Do Now?
Business
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Moneycontrol•20-01-2026, 21:44
Ola Electric Stock Plunges 26% in 10 Days: What Should Investors Do Now?
- •Ola Electric shares fell over 8% on Tuesday, reaching a nearly one-month low after news of CFO Harish Abichandani's resignation.
- •The stock has collectively weakened by more than 26% over the last 10 trading sessions, closing at Rs 32.59 on BSE.
- •Deepak Rastogi has been appointed as the new CFO, bringing extensive experience in capital markets and M&A.
- •Experts indicate a strong bearish pressure, with the stock in a downtrend and trading below key moving averages; Rs 30 is crucial support.
- •Increased competition from Bajaj Auto and TVS Motor, along with past revenue estimate cuts, adds to market pressure, despite recent BIS certification for 'Ola Shakti'.
Why It Matters: Ola Electric faces significant bearish pressure and competition; investors should monitor Rs 30 support level closely.
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