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Ola Electric Share Price: Ola Electric Mobility shares are seeing a decline of 9% on the first day of the week. Today is the third consecutive session when this stock is witnessing a decline. This stock has seen a decline in 5 out of the last 6 sessions. The stock was listed on both the exchanges – NSE and BSE – last month. Its issue price was ₹76 per share.
The stock has seen a spectacular rise since the day of listing and has managed to reach ₹157.4 per share. But, the stock has slipped about 44% since that peak. The market share of Ola Electric Mobility has been declining since the beginning of the current financial year. The company's share in the electric mobility market was 52% in April, which has come down to 27% in September.
Decrease in company's market share
Ola Electric Mobility has seen such a decline in market share after the entry of big companies like Bajaj Auto and TVS Motor in the EV market. The market share of Bajaj Auto and TVS Motor was 12% in April, which was 20% in September. Ola Electric Mobility has recently started BOSS Sale. Under this sale, the company is giving a festival discount of Rs 40,000. The price of the company's S1
IPO got good response
In recent times, many questions have been raised regarding the performance of the company. Service quality of Ola Electric has become important. The company is preparing to launch this motorcycle further. Brokerage firm HSBC said this in a note on the stock on September 26. The brokerage firm has a buy opinion on the stock with a target of Rs 140 per share. Let us tell you that Ola Electric IPO received 4.4 times subscription.