Shares of Ola Electric faced significant selling pressure, dropping by 16% on Monday. Investors are worried about the company’s growth prospects and decreasing market share in the electric two-wheeler sector. The stock, led by Bhavish Aggarwal, hit a record low of Rs 21.21 per share on the BSE, declining by 15.9%.
By 3:10 PM, the shares were trading 4.4% lower at Rs 24.11 each, while the broader BSE Sensex was down approximately 2%. Ola Electric’s market capitalization is currently at Rs 10,568 crore. Trading activity was robust, with nearly 7.65 million shares changing hands on the BSE, close to the two-week average volume of 8.92 million shares.
The stock has been under pressure for some time, with Ola Electric shares falling over 20% in the past month and nearly 56% in the last year. In contrast, the Sensex has seen an approximately 8.9% increase during the same one-year period. Since reaching a record high of Rs 157.53 on August 20, 2024, the stock has plummeted by over 86%.
Ola Electric entered the stock market on August 9, 2024, with an IPO price of Rs 76. Despite an initial rally post-listing, concerns over slowing electric vehicle sales, market share loss, regulatory scrutiny, and weaker-than-expected deliveries led to a decline starting from October 2024. Recent data from the government’s Vahan portal revealed a 47% month-on-month drop in electric two-wheeler registrations in February 2026, with Ola Electric’s market share in the segment falling to 3.5% for the month.
The decrease in sales coincides with reports of Ola Electric planning to reduce its physical store network to around 550 outlets by the end of March. The company, which previously had about 4,000 offline retail outlets across India, had reduced operational stores to approximately 700 by December 2025.
