Ola Electric shares drop 31% amid competition, quality concerns, and sales decline.
Ola Electric's shares fell 2.56% to 108.15, down 31% from a peak of 157.40, sparking caution among analysts. The company faces stiff competition from rivals like TVS Motor and Bajaj Auto, contributing to a decline in market share and a 34% drop in August sales. Amid rising concerns over product quality and service complaints, experts suggest only aggressive investors consider holding the stock due to its speculative valuation and ongoing losses.
September 23, 2024
5 Articles