Ola Electric shares fall 4%, slip below Rs 100 for the first time since listing
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Shares of Ola Electric Mobility fell by 4% to Rs 98.4 on Monday, marking the first time the stock has slipped below the Rs 100 mark since its public listing in August. With this decline, the stock has now dropped 37.5% from its peak of Rs 157.4, which it reached shortly after its listing. The electric scooter maker announced on Friday that it will double its company-owned service centre network to 1,000 by December as part of its newly launched Hyperservice, a campaign aimed at boosting electric vehicle (EV) adoption in the country. “With #HyperService we’re expanding our network and building the best in class ownership experience with on-demand and AI powered service,” Bhavish Aggarwal, CEO of Ola Electric shared in a post on X (formerly Twitter). Launching #HyperService today for @OlaElectric customers! In the last 3 years, we’ve built a 7L+ community and the leading market position. We have close to 800 stores but only about 500 ser...