Ola Electric shares recover 6% from day’s low – Know More

Shares of Ola Electric Mobility recovered sharply from their intraday low, gaining 6% from the bottom to trade 0.61% higher at ₹79.64 on January 8. The stock had earlier dropped nearly 5% to ₹75.16 following news of an administrative warning issued by the Securities and Exchange Board of India (SEBI).

The market regulator flagged Ola Electric for violations of disclosure norms under the Listing Obligation and Disclosure Requirements (LODR) regulations. Specifically, SEBI raised concerns over Chairman and Managing Director Bhavish Aggarwal’s announcement of the company’s four-fold store expansion plans on social media before formally disclosing them to investors on stock exchanges. The incident occurred on December 2, 2024.

Ola Electric shares traded in red throughout the early trading hours but saw a significant recovery in the afternoon session.

 

Ola Electric is actively expanding its footprint, including increasing its company-owned store network.

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