Shares of Ola Electric Mobility Ltd continued their sharp decline, falling for the 10th consecutive session on Tuesday. The stock dropped 8.36% to hit a low of ₹32.79, marking a cumulative correction of over 25% in the past 10 trading days.
The latest sell-off comes in the wake of the resignation of Chief Financial Officer Harish Abichandani, effective January 19, 2026. Citing personal reasons, Abichandani stepped down after a short tenure, thanking the board and leadership for their support.
In response, Ola Electric announced that its board has approved the appointment of Deepak Rastogi as the new CFO, aiming to ensure continuity in financial leadership.
Market experts believe the sharp fall reflects investor concerns over frequent leadership changes, sustained losses, and broader pressure on EV stocks amid valuation worries. While some analysts see the correction as sentiment-driven, others advise caution until clearer signs of financial stability and execution emerge.
Ola Electric Shares Slide Over 25% in 10 Sessions After CFO Exit
