Ola Electric, the leading company in the electric scooter-making market, is not having a jovial time at the equity market. After a much-discussed ascent in November and December, the company shares have been on a steady decline ever since.
Ola Continues To Decline
The new year has not brought any new hope for the company or its prospects, at least on Dalal Street.
While the company has reported some intriguing and innovative ideas, through the introduction of its new products, they are yet to make the big bucks, something that might interest the markets.
Disappointing Q3
In its Q3 results, the company saw its total revenue decline to Rs 1,045 crore in the quarter that ended in December 2024, lower than Rs 1,296 crore in the same quarter a year before that.
In addition, the company also reported net loss of Rs 564 crore for the third quarter of FY25, increasing from Rs 376 crore in the year-ago quarter.
Ola Shares In Deep Red
As a result of the recent decline, the company's shares hit is all-time low mark of Rs 60.15 per share.
Just on the last day of trading on Friday, February 15, the company shares dipped by a mammoth 5.34 per cent or Rs 3.43. Interestingly, the Bengaluru-based company's shares opened at Rs 64.56, higher than the previous day's closing of Rs 64.28.
16 per cent Decline in a Month
In past week, the company shares have declined in the double digits. In the past 5 trading sessions alone, the Ola Electric shares have dipped by 10.66 per cent or Rs 7.26.
When dig further, in the past month of trade, the electric vehicle maker has lost a mammoth 16.93 per cent or Rs 12.40 of its total value, bringing down the cumulative value to Rs 60.85 per piece, where it currently sits.
Ths decline is in tune with a larger loss of confidence and hurt investor sentiments that appear to have plagued the market as a whole.
The company also faces tough competition from the likes of Bajaj Auto and Ather. Bajaj Auto shares have also declined in the recent past. In the past month of trading Rajiv Bajaj-led company has lost Rs 113.15 or 1.32 per cent from its total value, bringing the price down to Rs 8,464.85.
