Ola Electric job cut – Ola Electric shares hit fresh all-time low amid job cut report
Shares of Ola Electric Mobility Ltd extended their fall for the sixth consecutive session in Monday’s trade. The stock tumbled 5.52 per cent to hit a record low of Rs 53.71. Last checked, it was down 3.73 per cent at Rs 54.73. At this price, the scrip has cracked 51.80 per cent in the last six months.
Today’s downward move in the share price came after it was reported that the pure-play electric two-wheeler maker is laying off more than 1,000 employees and contract workers as it seeks to prioritise profitability. However, Business Today could not verify this information at the time of publishing this story.
Ola Electric’s stock recorded heavy trading volume on BSE today as around 41.06 lakh shares changed hands. The figure was higher…
