Ola Electric Shares Today:Shares of electric two-wheeler maker Ola Electric Mobility fell as much as almost 8 per cent on Monday, October 7, continuing the fading wave of market value loss. The company’s shares have fallen more than 20 percent since last month after making a stellar market debut.
In other news, Ola Electric Mobility co-founder and CEO Bhavish Aggarwal got into a cheeky and heated argument with a comedian on X.com (formerly Twitter) after being criticized for lack of proper service centers and no refunds to affected customers.
At 10:35 am on Monday, the company’s shares were trading at Rs 91.68 apiece, down 7.37 points or 7.44 per cent.
Ola Electric is actively promoting its S1 range of electric scooters amid a challenging phase. The company recently recorded its lowest sales figures for 2024, selling 23,965 units in September, marking the second consecutive month of decline.
Since its stock market debut two months ago, Ola’s market share has followed a downward trend, dropping from over 50 percent in April to 27 percent in September. This marks five consecutive months of declining market share.
During the same period, competitors TVS Motor and Bajaj Auto have been closing the gap. TVS has gained market share for five consecutive months and now holds 20 per cent, while Bajaj has seen growth for three consecutive months, reaching 21 per cent share.
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