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Ola Electric Hits Fresh All-Time Low Amid Broader Market Slump
- Shares of Ola Electric hit a record low of INR 43.20 apiece on the BSE amid a broader market slump, sliding 6% in early trade.
- About 19.22 Lakh shares were traded on June 20, with Ola Electric's market capitalisation at $2.3 billion.
- Ola Electric's stock fell 1.9% last week and is facing challenges in market share and bottomline pressure.
- The overall market for electric two-wheelers in India saw a 30% month-over-month decline in April, impacting companies like Ola Electric.
- In Q4FY25, Ola Electric reported a net loss of INR 870 Cr, with a 62% decrease in top-line revenue from the same quarter last year.
- The Sensex also fell amidst market tensions due to conflicts between Iran and the US.
- Ola Electric CEO addressed regulatory challenges and promised revenue of INR 800-850 Cr in Q1FY26 by delivering 65,000 EVs.
- Investors are confused by Ola Electric's vague projections, with major institutional investors reducing their stakes in the company.
- Mutual Funds reduced stake to 2.6% in Q4FY25 from 4.1%, while Hyundai and Kia Corporations also sold off their stakes.
- Ola Electric's shares have lost 46% of their value year-to-date.
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