Ola Electric crashes to all-time low; stock tanks 25% in a month; more pain likely ahead

Shares of Ola Electric Mobility Ltd continued their steep decline in Friday's trade, dropping 3.85 per cent to touch a record low of Rs 34.73. At last check, the stock was trading 1.44 per cent lower at Rs 35.60. With this, the counter has fallen 25.18 per cent over the past month and is down 58.72 per cent so far in 2025.

Commenting on the recent price action, Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said, "Once considered the poster boy of the electric two-wheeler segment, Ola Electric has been declining over the past few quarters despite new product launches and various other initiatives. Investors holding the stock at current levels may continue to do so, as it is too late to consider an exit at this price point. The stock remains suitable only for high-risk investors."

The Bhavish Aggarwal-led company, which once dominated India's electric 2-W market, slipped to fifth position in November, with Hero MotoCorp's EV arm Vida surpassing Ola Electric to become the fourth-largest player.

On the earnings front, the company posted a narrower consolidated net loss of Rs 418 crore for the July–September quarter (Q2 FY26), compared with Rs 495 crore in the same quarter last year. However, revenue from operations fell 43 per cent year-on-year (YoY) to Rs 690 crore, down from Rs 1,214 crore in Q2 FY25.

Technically, analysts remain largely bearish on Ola Electric, citing a strong bearish trend, oversold momentum and repeated breakdowns of key support levels. Major support now sits around Rs 30–32.50, while resistance lies in the Rs 40–43 zone.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "The stock has seen a sharp decline, pushing it to all-time lows. The current technical setup remains weak, with resistance placed between 40 and 42. Investors are advised to stay on the sidelines until a clear reversal emerges."

Drumil Vithlani, Technical Analyst at Bonanza, noted, "Ola Electric continues to be in a strong bearish trend, with the price trading below all key EMAs and recently breaching the crucial support zone of Rs 39–40, confirming sustained downside pressure. Momentum is weak, with RSI deeply oversold around 16, and no bullish divergence or reversal signals yet, indicating sellers are still dominant. Key supports are at Rs 32.50 and Rs 30, where the stock may attempt to stabilise. Immediate resistance lies at Rs 41–42, followed by stronger hurdles at Rs 45.50 and Rs 48.50. A move above these levels is needed to indicate any meaningful recovery. Until then, the structure remains firmly bearish."

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, added that the stock has support at Rs 30 and resistance at Rs 40. A solid breakout above Rs 40 could pave the way for a move towards Rs 43, with the short-term trading band expected between Rs 30 and Rs 43.