Ola Electric shares nosedive nearly 80% from listing high
Ola Electric's stock has taken a sharp fall—down 4% on Monday and now trading nearly 80% below its post-listing peak of ₹157. That's also more than half off its IPO price.
Trading was intense too, with volumes way above the recent average.
Why does this matter?
Ola Electric's market value has crashed from ₹65,000 crore to about ₹15,000 crore in just a few months.
Still, they hold a solid 6.7% share of India's electric two-wheeler market and just rolled out mass deliveries of their 4680 Bharat Cell powered vehicles, featuring a new battery for better range and safety.
What's behind the drop?
After weaker Q2 results, Ola cut its yearly revenue forecast by about 30%, now aiming for ₹3,000-₹3,200 crore.
Analyst opinions are split: three say "buy," four say "sell," and one is neutral—with price targets between ₹25-₹65—citing sluggish sales and operational challenges as key concerns.