After a period of resurgence between the last week of November and the first few days of December, the shares of Bhavish Aggarwal-led Ola Electric, which looked all set to return the milestone of Rs 100 per share, have once again tapered down.
The electric scooter maker shares have grown at a sluggish pace in the recent pace. In fact, the shares of the company progressed even at a slower pace in the previous week.
Ola Shares Over The Past Week
The trading week that closed on December 13 saw the shares of Ola Electric decline by a total of 2.32 per cent or Rs 2.23.
This took the overall value of the shares Rs 93.76, below where it had started the week. The shares closed in red on Friday, with a decline of 0.24 per cent.
Ola’s Gains In 30 Days
However, it needs to be noted, that the company shares have made a reasonable amount of progress in the past 30 days of trading. In the past month of trading, Ola Electric shares gained a mammoth 36.02 per cent or Rs 24.83. This took the overall value of the Bengaluru-based company shares out of the Rs 75 per share mark.
After myriad controversies that shrouded the company, from Bhavish Aggarwal’s spat with Kunal Kamra to long line of complaints against the quality of the company’s products to its bad after-sale service, many factors beleaguered the company.
However, the company got a booster, when in its results, the company narrowed its losses.
Bhavish Aggarwal, founder of Ola Electric |
Another booster came in when the company released new products from two scooters to a portable battery.
These launches ensured a spike in the value of Ola shares. In fact, by December 4, the shares of the company rose by 8 per cent, just in 5 trading sessions before that.
With the end of the year in sight, it remains to be seen whether Ola shares will surge and reach or breach its 52-week high of Rs 157.40. The company was listed on August 9, 2024.
