Shares of Ola Electric Mobility fell more than 4 per cent on Monday and slipped below the Rs 100 mark for the first time since its listing last month.

Shares of Ola Electric Mobility fell more than 4 percent in trade on September 30, which also took the stock below the Rs 100-mark for the first time since its market listing. Moreover, the stock has also been in the red for 12 out of the last 14 sessions.

Ola Electric’s stock has fallen 38% from its peak to ₹97.85 amid investor concerns over market share losses and product reliability issues. Increased competition in the growing electric vehicle market in India is weighing on Ola Electric shares.

The stock was down 2.59% at Rs 99.55 on the Bombay Stock Exchange (BSE), marking a sharp decline from its record high of Rs 157.53 on August 20, 2024.

With Monday's drop, shares of Ola Electric Mobility have now declined 37% from its peak of ₹157.4, which it had surged to, just a few days after its listing.

The Bhavish Aggarwal-run Ola Electric's stock plummeted closed at INR 102.18 on Friday, as market analysts once again advised investors to wait for a more stable entry point. "Ola Electric has experienced a notable decline in market share - from 39% to 31% and a significant drop in sales,

The shares of Ola Electric Mobility on Monday (September 30) fell more than 4 per cent, dipping below the Rs 100 mark for the first time since its market debut. In the last month alone, the stocks of the company declined over 16 per per cent.

Shares of Ola Electric Mobility fell more than 4 per cent on Monday and slipped below the Rs 100 mark for the first time since its listing last month.

Ola Electric, India's leading electric two-wheeler maker, announced plans to expand its service network and offer new customer benefits to boost EV adoption.