Why Ola Electric's stock is crashing after a month-long rally
Ola Electric's stock took an 8% dip on Thursday, cooling off after a huge 77% jump over the past month.
The shares, which launched at ₹76 in August 2024, soared to a high of ₹123.9 before crashing to ₹39.6 in July.
This recent rally has brought them back near their IPO price, but trading remains pretty volatile.
What does Ola Electric do?
Based in Bengaluru, Ola Electric mainly makes electric scooters—think Gen 2 and Gen 3 models like the S1 Pro and S1 X series.
Just last month (August 2025), it earned PLI certification for its Gen 3 line, making it eligible for government incentives of up to 18% on sales until 2028.
EV sales and funding boost
Despite a steep 31% drop in sales compared to last year in August, Ola Electric is back as India's second-biggest player for EV two-wheeler registrations as of August end—selling nearly 19,000 units in August 2025.
Plus, mutual fund Helios just jumped in as an investor, due to its potential in the EV two-wheeler space, and even likened Ola's journey to their early days with Zomato.