Ola Electric stock drops 7% to ₹37.96 after LFP rally
Business
Ola Electric's stock dropped 7% to ₹37.96 on Monday, cooling off after a three-day, 40% surge.
The earlier jump was thanks to its new in-house LFP batteries, which could make Ola's EVs cheaper, and its PLI certification for a key model, which could help them qualify for government incentives.
Ola Electric 1 million registrations, ₹487cr loss
March 2026 was huge for Ola Electric: it became the first Indian EV brand to cross 1 million total registrations.
Still, it's not out of the woods financially: Ola Electric reported a consolidated net loss of about ₹487 crore in the December quarter but remain high.
The stock's been all over the place too, trading strong in the short term but still shaky long-term, and investors seem cautious for now.