Ola Electric Shares Hit Record Low Amid Fresh Block Deals

Ola Electric Mobility Ltd $OLAELEC.NS witnessed renewed selling pressure on Monday as its stock declined 6% to an all-time low of ₹43.20 on the Bombay Stock Exchange (BSE). The sharp drop followed a series of block deals involving 0.8% of the company’s equity, although the identities of the buyers and sellers remain undisclosed as of the latest filings.

Intraday Weakness Follows Heavy Block Activity

The slide marked another leg of weakness for Ola Electric's stock, which has remained under sustained pressure since its listing. Market data indicated that the slump was directly tied to the movement of institutional-scale volumes via negotiated trades. The lack of visibility around the counterparties and transaction intent heightened uncertainty, reinforcing bearish sentiment in the short term.

Earlier in the month, a significantly larger block deal saw 14.22 crore shares, or 3.23% of total equity, change hands at a weighted average price of ₹51.40, amounting to ₹731 crore. That transaction was reportedly linked to pre-agreed secondary market deals between existing institutional holders, including Hyundai Motor Company $005380.KS.

Pricing Volatility and Sentiment Impact

The discrepancy between recent block deal prices and the current market quote reflects a growing divergence in valuation perspectives. The steep decline from ₹51.40 to ₹43.20 within days suggests a reevaluation by market participants of Ola Electric’s near-term growth potential, particularly as competitive intensity in India's EV segment increases.

Moreover, with no official commentary from the company or filing updates confirming promoter or anchor investor exits, the uncertainty surrounding the equity structure has added a layer of speculative risk.

Factors Contributing to the Downward Pressure

• High supply overhang from recent large-volume offloads;

• Lack of immediate visibility on institutional buying interest;

• Absence of operational updates or positive business catalysts;

• Negative market perception post-IPO performance.

Market Outlook and Strategic Implications

Ola Electric’s public market journey has been characterized by volatility and limited institutional stability. The company debuted with high expectations, riding on India's electric vehicle growth narrative, but the stock's post-listing performance has consistently trailed benchmarks and peer groups.

Without clear signals on revenue traction, production scale-up, or battery technology leadership, investors appear cautious. The fact that recent bulk deals have taken place at progressively lower price bands further underscores a lack of conviction at current valuations. Unless supported by concrete business developments or strategic investor disclosures, price action may remain subdued in the near term.