Ola Electric shares fell by nearly 9% to around Rs 32.6, marking the stock's 10th consecutive decline, and its market cap has fallen by around Rs 14,375 crore. In the last 12 months, the stock has fallen by over 56%. .

The main reason for today's sharp decline is the resignation of CFO Harish Abhikhandani, who had been with the Ola Group since 2017. The company has appointed former Puravankara Group CFO Deepak Rastogi as his replacement.

Financially, Ola Electric is under pressure, with operating income in the second quarter of FY26 falling by 43% and vehicle registrations falling by over 51% in FY25, leading to a sharp decline in market share. The stock fell despite overall weakness in the broader Indian equity markets