Ola Electric Mobility Stock Declines 8% Amid Weakness on Dalal Street, Posts 61% Gain in April

Ola Electric Mobility Shares Plummet 8% Amid Broader Market Weakness

Shares of Ola Electric Mobility took a sharp hit on Monday, April 13, as the company's stock declined by around 8% amidst profit booking. The decline was further exacerbated by weakness in the broader Indian equity markets. The stock dropped as much as 7.7% to hit an intraday low of ₹37.75 on the BSE, marking a significant downturn from its recent rally.

The company's stock had gained 61% so far in April, but remains under pressure over a longer horizon. Over the past three months, the stock has slipped more than 3%, and has fallen 25% over the last one year. The stock has also 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.

The decline in Ola Electric Mobility's stock was partly due to weakness in the broader market. Benchmark indices Sensex and Nifty 50 plunged on Monday, after U.S.-Iran ceasefire talks collapsed and crude oil prices surged. The collapse of the talks raised concerns that the Middle East conflict could persist longer than expected.

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The risk-off sentiment was reflected in the benchmark indices, with Sensex dropping 1,682 points or 2.1% to 75,868.32, while Nifty declined 495 points or 2% to 23,555.60.

Recent Developments Boost Sentiment

Despite the recent fall, the Ola Electric stock had seen a strong rally earlier this month, driven by multiple positive developments. On April 7, the company 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's operational momentum also improved sharply, with registrations surging 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 company had stated that its market share witnessed a V-shaped recovery during the month, supported by structural improvements in service operations.

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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.

Comparison of Ola Electric's Stock Performance