Shares of Ola Electric Mobility Ltd. are trading with losses of over 5% on Wednesday, marking its fourth trading day since its stock market debut. The stock is currently under scrutiny ahead of the company’s June quarter results, which are set to be reported later today, August 14.
In addition to the earnings report, Ola Electric is also in the spotlight for the upcoming unveiling of its first electric motorcycle. The new model will be showcased on Thursday, August 15, at the company’s flagship event, ‘Sankalp 2024.’
Ola Electric made its stock market debut last Friday at its issue price of ₹76. The stock initially surged, ending its trading debut with an upper circuit limit of 20%. This was followed by another 20% upper circuit on Tuesday.
However, shares saw a decline of 1% on Tuesday after experiencing selling pressure, with the stock hitting a high of Rs 129.4. Despite the recent drop, shares had risen nearly 70% from their IPO price at Tuesday’s peak.