Ola Electric Shares: Ola Electric shares touched a new all-time low, know how much the price fell in one year

Ola Electric Shares: Ola Electric Mobility Limited is once again in the news. This time the reason for discussion is his shares. In the market race, the decline in shares of Ola Electric Mobility continued on Friday, February 20. The stock closed 2.5% lower at Rs 27.51 on February 19 and has fallen nearly 50% in a year. Under the new strategy, the company is now preparing to reduce the stores to about 550 by the end of March. Amidst the 61% decline in sales and reduced market share, the big question is what will be the future impact of this news on the stock? In the same period, Sensex has risen by about 8.9%. Even in the last one month, shares of Ola Electric have fallen by about 16%.

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strategic change
The Bhavish Aggarwal-led company had earlier undertaken aggressive expansion taking its offline network to around 4,000 locations across the country. In the recent quarterly update, the company said that it has already reduced the number of its active stores to about 700. This has been described as part of a strategic change.

operating model
According to reports, the December quarter was a time of major internal changes for the company. In view of the slow pace of electric vehicle adoption and the need to improve service quality, the company decided to change its cost structure and operating model.

Long-term stability
The company is now focusing on long-term sustainability rather than increasing short-term sales. Outlets have been closed at some places and employees have also been laid off at some places.