Ola Electric shares in focus ahead of Q2 results today
Shares of Ola Electric, which recently debuted on the exchanges, will be in focus as the company will announce its quarterly numbers for the July-September 2024 period.
Ola, which got listed in August this year, is currently trading below the issue price of Rs 76. Despite the initial rally in the first couple of days, the stock has since lost nearly half of its market capitalization, which has fallen from a peak of over Rs 66,000 crore to just over Rs 33,000 crore.
The steep fall is mainly attributed to the rising consumer complaints, prompting the Central Consumer Protection Authority (CCPA) to issue a notice. In response, Ola Electric had mentioned that 99% of the consumer queries had been resolved.
According to the latest data, Ola’s…
