Ola Electric’s stock price fell by 2.36% to ₹93.52 at 9:21 AM on the National Stock Exchange (NSE) following news of increased regulatory scrutiny. The Ministry of Heavy Industries has requested the Automotive Research Association of India (ARAI) to provide insights into Ola Electric’s compliance with regulatory standards.
This development comes in the wake of a surge in consumer grievances related to the company, raising concerns about its adherence to industry standards and operational protocols.
Investors are closely watching the situation as regulatory actions could impact the company’s future performance and market sentiment.
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