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Tuesday, 5 November, 2024

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Ola Electric Shares Drop 9% To New Lows: Check The Key Reasons Behind The Fall

It is worth noting that Ola Electric, led by Bhavish Aggarwal, faces heightened regulatory scrutiny over consumer complaint handling. The company's shares plummeted 21.54% in the past month and 4.14% over the last two weeks.

Ola Electric Shares

The shares of Ola Electric Mobility fell over 9% in Tuesday’s trade, hitting an all-time low of Rs 73.70 apiece on the BSE. This is lower than its issue price of Rs 76 per share. The stock has plummeted 53.22% from its record high of Rs 157.53 on August 20, 2024. The shares of Ola Electric Mobility have surged nearly 2% to Rs 77.84 apiece from the price band of Rs 72 to Rs 76.

Notably, the three-month lock-in period for the company’s share expired today. This means that approximately 182 million shares of the company, which were previously locked, can now be sold. These 182 million constitute into 4% of the total equity. Shareholders face a 3-month restriction on selling or transferring shares, and this is called share lock-in period.

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It is worth noting that Ola Electric, led by Bhavish Aggarwal, faces heightened regulatory scrutiny over consumer complaint handling. The company’s shares plummeted 21.54% in the past month and 4.14% over the last two weeks.

How Ola Electric Shares Performed Today?

  • Ola Electric Mobility has a market capitalisation of Rs 32,741.59 crore.
  • The company’s share were closed at Rs 80.60 apiece on Monday.
  • Ola Electric Mobility’s shares opened at Rs 80.04 on Tuesday.
  • The company’s share hit the day’s high at Rs 80.38 apiece.
  • The company’s share hit the day’s low at Rs 73.70 per share.
  • 52-week high for company’s share is Rs 157.53 per share.
  • 52-week low for Ola Electric Mobility’s is Rs 73.70 apiece.

ALSO READ: ALL Eyes On Niva Bupa Health Insurance Rs 2,200-Crore IPO – What You Need To Know?

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HISTORY

Written By

Akshat Mittal


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