Ola Electric, the Bhavish Aggarwal-led EV maker’s hot and cold rollercoaster ride at the equity markets continues. This is because after a period of relative stability in December and late November, the company shares have further hit the pedal of decline.
Ola’s Restructuring
In the recent past, the value of Ola Electric has seen new lows of decline. While it looked like the company would regain its momentum and regain the Rs 100 per share mark, that did not come to pass.
This comes at a time when the Bhavish Aggarwal-led group of companies is looking to restructure under a conglomerate regime from its current associates system.
This move looks to bring Ola Consumer (cabs), Ola Electric, Ola Maps and Krutrim AI under one roof.
This development comes to pass as Ola Consumer gears up for its own IPO.
Centre’s Notice To Cab Business
Another major incident which may have further dragged the momentum of Ola shares is the centre’s decision to issue notice to Ola and Uber over its alleged differential pricing deployed by the cab aggregators on phones with different operating systems.
This said distinction in pricing was observed in cabs booked on Android-run phones and Apple’s iPhones that run on iOS.
Ola Electric Shares in Focus
The shares of the company declined further by 3.27 or Rs 2.40┬аon the most recent trading session on Friday, January 24.
This came to pass after hitting the high of Rs 73.75, which was higher than the previous session’s closing of Rs 73.49 per share.
In the past 5 trading sessions or the past week of trade, the shares of Ola Electric declined by a cumulative 5.10 per cent or Rs 3.82.
This does not appear to be an aberration, as the company shares have declined by a monumental 24.01 per cent or Rs 22.46┬аin just the past month. Ola Electric’s 52-week-high stands at Rs 157.40 per piece.
