Ola Electric, one of the biggest names in the Indian EV business and the leading force in the EV scooter business, had another forgettable week at the bourse.
Ola's Week At Dalal Street
This comes after the previous weeks, when the company piloted by Bhavish Aggarwal was looking to make up for the losses suffered in the earlier weeks of 2025.
The momentum that saw the company make some gains in mid-March appears to have waned out for now.
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Just in the last trading session of the previous week, on Friday, the company shares, after opening flat on Rs 55.10, declined by 4.17 per cent or 2.30, in just a single trading session.
When we look at the larger picture of the development over the past week or 5 trading sessions, the company shares declined in size by a cumulative 5.55 per cent or Rs 3.10.
This major decline in the value of the company shares resulted in the stock price slumping to Rs 52.80 per piece by the end of the previous trading week.
As the trading for the month of March came to an end on Friday (as the last day of the month would be a market off), the Bengaluru-based company's shares declined in value by a cumulative Rs 4.03 or a mega 7.09 per cent.
So, Why Did This Happen?
The company has been under immense pressure and extensive scrutiny over the past few trading sessions. One of the reasons behind this heat that company could not seem to walk away from, was the insolvency procedings, initiated against the company by the Rosmerta Group over unpaid dues.
The matter found a resolve when the company, apart from acknowledging the fault, also announced the cessation of the dispute. In a statement, Ola announced that it has managed to settle the dues with the Rosmerta Group.
This news, seemingly positive in nature, does not appear to have placated the investors for good. Eventually leading the company shares to a path of decline. The company, which was listed in August 2024, marks its 52-week high of Rs 157.40 per piece. |
Resolve, Not To Rescue
In an exchange filing, the company said, "Ola Electric has amicably settled all outstanding dues between its wholly owned subsidiary, Ola Electric Technologies Private Limited, and the Rosmerta Group. As a result, the Rosmerta Group has filed the memo for withdrawal of the petitions filed before the National Company Law Tribunal (“NCLT”), Bengaluru."
This news, seemingly positive in nature, does not appear to have placated the investors for good. Eventually leading the company shares to a path of decline. The company, which was listed in August 2024, marks its 52-week high of Rs 157.40 per piece.
