Ola Electric Share Price: There was a sharp decline in the shares of Ola Electric Mobility on Tuesday. After the news of the CFO’s resignation, the stock fell more than 8 percent and fell to its lowest level in almost a month.
The stock closed 8.92 per cent lower at Rs 32.59 on BSE. It slipped 9.84 percent to Rs 32.26 intra-day. Overall, the stock has weakened by more than 26 percent in the last 10 trading sessions.
CFO’s resignation became a major reason for the decline
Ola Electric CFO Harish Abhichandani has resigned from his post due to personal reasons. He was the CFO of the company since November 2023. It was during his tenure that the company was listed in the stock market. However, the company is currently struggling with falling sales. Due to this, in November 2025 it had cut the revenue estimate for FY26.
Deepak Rastogi becomes the new CFO
Ola Electric has appointed Deepak Rastogi as the new CFO with effect from January 20. According to exchange filings, Deepak has deep experience in P&L leadership, capital markets, fund raising, M&A, IPO, strategy and governance. The company says that till now they have worked on equity transactions worth about $100 crore and many international M&A deals.
Expert opinion on Ola Electric
Akash Shah, Technical Research Analyst at Choice Equity Broking, says that Ola Electric continues to be under strong bearish pressure. The stock has fallen for the 10th consecutive session, which shows that market sentiment regarding it remains weak. On the daily chart, the stock is clearly in a downtrend and is trading below all important moving averages.
He said, ‘Every recent pullback attempt has failed near 50 EMA and 100 EMA, which clearly shows that these levels are now acting as dynamic resistance. Failure to stay above these averages has resulted in new selling every time.
Ola’s support and resistance levels
Akash Shah says that the stock of Ola Electric is continuously making lower high and lower low, which further strengthens the bearish trend. The recent breakdown below the support zone of Rs 35-36 has further weakened the structure. Now the level of Rs 30 has emerged as an important and immediate support. If this level is also broken decisively, the way for further decline may open.
According to Shah, ‘As long as Ola Electric remains below the Rs 40-43 zone and does not close above the short-term moving average, the overall outlook will remain negative. In such a situation, any rise will be considered as a selling opportunity rather than a sustainable rally.
Pressure due to increased competition in the market
Ola Electric, which once held 50 percent share in the e-scooter market, is now facing tough competition. Bajaj Auto and TVS Motor have strengthened distribution network. They are also offering more options at the same price, which has put pressure on Ola’s market share.
Recently received positive update
Recently Ola Electric received a positive news. The company has received BIS certificate for ‘Ola Shakti’ with 6kW / 9.1 kWh battery pack equipped with 4680 Bharat Cell. This is the country’s first residential BESS (Battery Energy Storage System) solution, which has been completely designed in India.
Journey from IPO till now
Ola Electric had issued shares at a price of Rs 76 in an IPO of Rs 6,145 crore. The listing took place on 9 August 2024. The share closed on the upper circuit on the very first day and reached a record high of Rs 157.53 on 20 August 2024.
After this the period of decline started. On December 18, 2025, the share had reached a record low of Rs 30.79. This was a decline of about 80 percent from the all-time high.
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