Ola Electric Mobility Ltd Share Price: There has been a huge fall in the shares of Ola Electric today. At one point on Monday morning, the company’s shares fell by more than 10 percent. This is the third consecutive trading day when Ola Electric shares have seen a decline. Let us tell you, investors have suffered losses in 5 out of the last 6 trading sessions.
The company’s shares opened at Rs 99.06 in BSE today. After some time, the price of the company’s shares fell to Rs 89.71.
The stock has fallen by more than 40 percent
Ola Electric’s IPO came in August last year. The issue price of the company was Rs 76. After a few days the price of the company’s shares more than doubled. Company life time high is Rs 157.40. But after this the sale of the company’s shares intensified. Due to which the stock fell by 43 percent.
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According to VAHAN data, there has been a decline in the market share of Olympic. The company’s market share in April was 52 percent. Which has reduced to 27 percent in September. Ola is facing tough challenge from Bajaj Auto and TVS Motors. There has been an increase in the market cap of both the companies. Their market share in April was 12 percent. Which has increased to 20 percent in September.
Ola Electric has launched BOSS Sale to attract customers. The company’s SI X scooter is available for Rs 49,999. The company is giving a discount of up to Rs 40,000.
Expert advised to buy Ola Electric
According to the report of CNBC TV18, brokerage firm HSBC has given a ‘buy’ tag to this stock. The brokerage firm has set a target price of Rs 140.
Also read: Bhavish and Kamra ‘clash’ over Ola scooters, Zomato boss praised for this reason
Ola Electric CEO Bhavish Aggarwal and comedian Kunal Kamra have seen a heated argument on social media platforms. Kunal Kamra has made a post in which he has said that questions have been raised regarding the scooters of Ola Electric. To which Bhavish Aggarwal has replied. The posts of both are being discussed a lot.
(This is not investment advice. The stock market is subject to risks. Take informed decision before making any investment. The views of the experts presented here are personal. does not recommend buying shares on this basis.)
