Ola Electric shares have been trading in the red for the better part of Thursday, January 23. However, the depletion in the value of the company shares only intensified after the news of a central government notice emerged.
Centre Issues Notices To Ola and Uber
The centre has issued a notice to Ola Consumer (Cabs) and US-based Uber, two of the largest cab aggregators in the country, over apparent differential pricing in devices with different operating systems.
Here it is being observed that there is an ostensible difference in the pricing of ride on the apps (Ola and Uber), depending on the phone OS and model.
Here, the pricing on Android phones is different from the pricing on Apple (iPhones or phones that run on iOS) and other high-end phones, for the exact same route, at the same time.
Union Minister of Consumer Affairs, Prahlad Joshi took to X to shares this news. In his post, Minister Joshi said, "As a follow-up to the earlier observation of apparent #DifferentialPricing based on the different models of mobiles (#iPhones/ #Android) being used, Department of Consumer Affairs through the CCPA, has issued notices to major cab aggregators #Ola and #Uber, seeking their responses."
Differential Pricing
Previously, many users have pointed out the differential pricing that they observed in their personal experience.
Ola Electric Shares
When we look at the shares of Ola Electric, an associate company of the Bhavish Aggarwal-led companies, they further declined in value as the traidg day came to a close.
The overall decline in share prices went past 1.40 per cent. The Ola Electric stock closed for the day's trade at Rs 73.35, with an overall decline of 1.29 per cent or Rs 0.96.
Ola Electric's 52-week-high stood at Rs 157.40 per share. In the past five trading sessions, the value of the shares have declined by 1.13 per cent.
