Ola Electric Share Price Tumbles Over 7% in Sharp Sell-Off, Hovers Near 52-Week Low; Peer EV Stock in Rally

Shares of Ola Electric Mobility Ltd witnessed a sharp sell-off in Monday's trade, slipping deeper into negative territory as investor sentiment remained weak. On the BSE, the stock was trading at Rs 34.61 at around 3:14 PM, marking a steep decline of Rs 2.78 or 7.44 per cent from its previous close of Rs 37.39.

Ola Electric Share Price Today

The stock opened lower at Rs 37.00 and briefly attempted to stabilise in early trade, touching an intraday high of Rs 37.07. However, selling pressure intensified as the session progressed, dragging the price down to an intraday low of Rs 34.46, close to its yearly bottom levels. The sharp fall indicates strong profit-booking as well as continued caution among investors.

Ola Electric's share price is now hovering just above its 52-week low of Rs 33.17, highlighting the extent of the correction the stock has undergone in recent months. The counter has fallen significantly from its 52-week high of Rs 100.40.

Why Ola Electric Shares Are Falling?

Ola Electric Mobility Ltd. witnessed a sharp fall in its share price, which may have prompted founder Bhavish Aggarwal to offload a part of his holdings, as analysts point out that the company's weak operational performance continues to weigh on investor sentiment.

Stake Sale by Founder Bhavish Aggarwal; Bulk Deal Linked to Rs 260 Crore Loan Repayment

According to stock exchange filings, Aggarwal sold approximately 2.6 crore shares in a bulk deal on Tuesday, December 16, reducing his stake in the company. The transaction was reportedly carried out to repay a personal loan of around Rs 260 crore, which he had taken to finance his artificial intelligence startup, Krutrim AI. To secure the loan, Aggarwal had pledged a portion of his Ola Electric shares with lenders, including Axis Trustee and Aditya Birla.

The EV maker is currently trading below all its key moving averages, including the 5-day, 20-day, 50-day, 100-day and 200-day averages, a setup that typically signals a strong bearish momentum.

Ola Electric Stock Price Vs Peer: Mercury Ev-Tech Share Price Today Jump Over 4%

Mercury Ev-Tech, a small-cap EV stock priced below Rs 50, witnessed strong intraday demand on December 16, rising more than 4 per cent even as benchmark equity indices declined sharply. The stock climbed 4.2 per cent to an intraday high of Rs 40.45, highlighting selective buying in the segment.

Despite the day's gains, Mercury Ev-Tech continues to trade significantly below its peak. The share is still over 59 per cent lower than its 52-week high of Rs 99.26, recorded in January 2025, and is hovering close to its 52-week low of around Rs 36, touched earlier this month.

However, the stock's long-term track record remains a key attraction for investors, as Mercury Ev-Tech has delivered around 5,800 per cent returns over the past five years.

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