Shares of Ola Electric Mobility fell sharply on Monday, April 13, declining around 8% amid profit booking, with weakness in the broader Indian equity markets further weighing on sentiment.
The stock dropped as much as 7.7% to hit an intraday low of ₹37.75 on the BSE. The decline comes after a sharp rally, with the stock gaining 61% so far in April. However, it remains under pressure over a longer horizon, slipping more than 3% over the past three months and falling 25% over the last one year.
The stock has corrected 47% from its 52-week high of ₹71.24 touched in September 2025, while it had hit a 52-week low of ₹21.21 in March 2026.
Weak broader market cues also contributed to the decline. Benchmark indices Sensex and Nifty 50 plunged on Monday after U.S.-Iran ceasefire talks collapsed and crude oil prices surged, raising concerns that the Middle East conflict could persist longer than expected. Talks held over the weekend in Islamabad failed to yield a breakthrough, putting the fragile two-week ceasefire at risk.
Reflecting the risk-off sentiment, Sensex dropped 1,682 points or 2.1% to 75,868.32, while Nifty declined 495 points or 2% to 23,555.60.
Why Ola Electric rose 61% in April
Despite the recent fall, the Ola Electric stock had seen a strong rally earlier this month, driven by multiple positive developments.
On April 7, Ola Electric announced the readiness of its in-house developed lithium iron phosphate (LFP) cell, marking a key milestone in its push to strengthen electric mobility and build a full-stack energy ecosystem. The newly developed 46100-format LFP cell is larger than the existing NMC 4680 Bharat Cell and represents a significant improvement in scale, applicability, and cost efficiency. The company said the new cell will be deployed in its products starting next quarter.
Operational momentum also improved sharply. The company’s registrations surged to 10,117 units in March, compared to 3,973 units in February, translating into over 150% month-on-month growth, as per VAHAN data. This pointed to a strong revival in demand.
The Bhavish Agarwal-led firm had stated that its market share witnessed a V-shaped recovery during the month, supported by structural improvements in service operations. Notably, the company also crossed 1 million cumulative registrations in March, becoming the first EV brand in India to achieve this milestone, according to VAHAN data.
Further boosting sentiment, the company received Production Linked Incentive (PLI) certification for its Roadster X+ 11 kW 4.5 kWh motorcycle from the Global Automotive Research Centre (GARC). Ola Electric said the Roadster X+ 4.5 kWh is the first motorcycle in its Roadster portfolio to secure PLI certification under the PLI-Auto scheme, marking a key step in its expansion into the electric motorcycle segment.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
