Why did Ola Electric shares fall 4% on Monday?
Bhavish Aggarwal-led Ola Electric's shares were down 4% on Monday after a Bloomberg report claimed the company is in regulatory trouble. Transport authorities are reportedly conducting raids, closing showrooms, seizing vehicles & sending show-cause notices to Ola because the stores allegedly don't have trade certificates. Ola Electric's shares fell to ₹54.11, approaching its 52-week low of ₹53.71.