Delhi Delhi. Ola Electric's astronomical resurgence, which made its presence felt in the first half of December, now seems to be tapering off to a large extent. Shares of the Bhavish Aggarwal-led company have fallen continuously in the last few trading weeks. The past trading week was no different, as shares of the company fell further in the trading sessions ahead of the end of 2024. This fall is largely due to the overall fall in Indian markets last week. In fact, this week has been one of the worst trading weeks in 2024. For context, the benchmark index BSE Sensex fell by a massive 4.80 per cent or 3,932.86 points to 78,041.59. Meanwhile, on the NSE, the NSE Nifty fell 4.52 per cent in the five trading sessions ended Friday, December 20.
Ola Electric, which enjoyed a stellar comeback after its new product launch, recovered from its decline in the months following its listing on August 9, 2014, riding on investor confidence. On Friday alone, the company's shares surged 2.75 per cent Or a significant fall of Rs 2.62. This came as Ola shares opened at Rs 95.60, slightly higher than the previous day's Rs 95.12. However, this momentary bounce did not last long, as the company's shares fell.
When we look at the overall picture of the past week, Ola Electric shares fell by an even greater margin. The company's shares declined and lost 3.80 percent or Rs 3.65. The fall took the total value of the company's shares to Rs 92.50 by the end of the week. The company's 52-week high price stood at Rs 157.40. It is not necessary that everything is in the red, as Ola Electric shares have had a positive performance in the last month's trading. The company's shares have gained an overall rise of 33.79 per cent or Rs 23.36 in the last month.
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