Shares of Ola Electric have fallen by 43 percent, Bajaj and TVS are snatching market share.

Bhavish Aggarwal: The past few times have been very bad for Ola Electric. The company’s stock surprised everyone with its strong performance on the day of listing. Ola Electric’s stock, which was listed at just Rs 76, jumped rapidly and reached Rs 157.4. Since then he has been continuously falling. There has been a decline of about 43 percent. On Monday also the company’s stock went down by about 8 percent. Due to focus on EV products by Bajaj Auto and TVS Motor, the company is also losing market share. Besides, there are also allegations of poor service.

Company’s market share reduced to half, Bajaj-TVS won

There was a huge fall in the stock market on Monday. At the end of trading, the Bombay Stock Exchange (BSE) Sensex closed at 81050 points with a fall of 638 points, while the National Stock Exchange (NSE) Nifty closed at 198 points. With the fall it closed at 24,817 points. Shares of Ola Electric also closed at Rs 90.82. There has been a decline of about Rs 8 in this. According to VAHAN data, the company’s market share was 52 percent in April, which has come down to only 27 percent in September. The market share of Bajaj Auto and TVS Motor has increased to about 20-20 percent during this period.

Ola is giving Rs 40 thousand discount on electric scooter

Ola Electric has recently started Boss Sale to increase its sales. In this, while giving a discount of festive season, he has given a discount of Rs 40 thousand on his S1 Now it is starting at just Rs 49,999. A day earlier, a fierce fight was seen on social media between the company’s CEO Bhavish Aggarwal and comedian Kunal Kamra. Both of them started a tweet war and created trouble for each other. Kunal Kamra had raised question marks on Ola’s service. After this, Bhavish Aggarwal also gave him a befitting reply.

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