Ola Electric Shares Plunge Amid Sales Decline

• Ola Electric shares fell by 6.8% to INR 81.01 during intraday trading on BSE.
• The stock has dropped about 48.1% from its record high of INR 157.53 on August 20.
• This slump is due to consecutive monthly declines in sales and rising complaints about after-sales service.
• Ola Electric's escooter registrations dropped 11% month-on-month to 23,965 units in September.
• Despite this, brokerages like Goldman Sachs and BofA Securities maintain a buy rating on the stock.

Source: Inc42