Big news again from OLA Electric, effect of a resignation; Shares crashed, crores of rupees were lost in one stroke
New Delhi. Ola Electric shares are again seeing a big fall today (Tuesday, January 20). On Tuesday, its shares fell by more than 7 percent (OLA Electric Share Crashes). The decline in Ola shares continues for 10 consecutive days. Continuous large scale resignations from the company are also being considered a major reason for this decline.
On January 20, 2026, shares of Ola Electric went up to Rs 33. Today it opened on NSE at the level of Rs 35.73. Around 11:30 am, its shares were trading at Rs 33.33 with a decline of -6.72%.
As soon as the resignation came, it was shared with great fanfare.
Ola said in an exchange filing on Monday that the board has accepted the resignation of Harish Abichandani from the post of CFO of the company with effect from January 19, 2026 (OLA CFO Harish Abichandani Resigned). Abichandani has given personal reasons behind his resignation.
Shares of pure-play EV company Ola Electric Mobility fell as much as 7% to the day's low of Rs 33 on Tuesday following the resignation of Chief Financial Officer (CFO) Harish Abichandani. With today's decline, the stock has fallen nearly 25% in the last ten sessions.
At the same time, the Board approved the appointment of Deepak Rastogi as CFO (OLA New CFO), who will also be a part of the managerial personnel and senior management personnel with effect from January 20, 2026. Rastogi was recently the group finance chief of property developer Puravankara.
Sales increased in December, yet shares are falling
Barring gains in the first three trading sessions of the year, Ola Electric stock was down in all other sessions this month, resulting in a monthly loss of 6%.
After releasing strong sales figures for the month of December (OLA December Sales Increase), the stock had risen from its all-time low of around ₹30 in the first few sessions of January.
Also read- OLA Electric got government support, got Rs 366.78 crore from the government under PLI incentive; Shares will run tomorrow!
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(Disclaimer: Information about the stock market is given here, not investment advice. Jagran Business is not giving investment advice. Investing in the stock market is subject to market risks, so please consult a certified investment advisor before investing.)
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