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Ola Electric Share Price: Ola Electric Mobility shares continued to slide on Thursday, extending losses for the third straight session, as promoter stake sales, intensifying competition and weak operating trends kept investors on the sidelines.

The stock slipped as much as 4.2 per cent to hit an all-time low of Rs 31.54 before trading 3.89 per cent lower at Rs 31.64 on the BSE around 9:39 am. In contrast, the Sensex was down a modest 0.14 per cent.

From its all-time high of Rs 157.4, Ola Electric shares are now down nearly 80 per cent. The company’s market capitalisation has eroded to about Rs 13,950 crore, compared with nearly Rs 69,000 crore at the peak.

The immediate trigger for the recent sell-off has been promoter Bhavish Aggarwal’s stake sale through open market transactions over the past two days. Exchange data shows Aggarwal sold a combined 6.8 crore shares, trimming promoter holding from 36.78 per cent to about 33 per cent.

According to the company, the sale is part of a one-time monetisation to fully repay a promoter-level loan of Rs 260 crore. The move will also result in the release of the entire 3.93 per cent pledged stake, which the company said removes a key overhang on the stock.

Beyond promoter selling, Ola Electric’s weakening competitive position has emerged as a bigger concern for investors. The company has been steadily losing ground to established two-wheeler makers such as TVS Motor and Bajaj Auto.

Industry estimates suggest Ola Electric’s market share has dropped sharply from around 46 per cent to nearly 17 per cent, reflecting mounting pressure in the electric scooter segment.

Operational performance has also lagged expectations. Average monthly unit sales have slipped to about 19,500 units from earlier levels of nearly 30,000 units, indicating slower demand momentum.

Analysts say the softer volume offtake has raised questions over near-term growth visibility in the company’s core business.

Investors are also wary of Ola Electric’s increasing focus on new verticals, particularly battery cell manufacturing. The management is calling this as a long-term play, but experts opine the shift has come at a time when the core scooter business needs sharper execution.

The company’s plan to raise an additional Rs 1,700 crore of debt could push total borrowings beyond Rs 5,000 crore, adding to balance-sheet concerns.

Constant flow of negative news including reports of store closures and operational challenges — has further hurt sentiment. Market participants warn that continued price erosion could trigger lender margin calls, increasing volatility.

That said, the release of pledged shares is seen as a limited positive, as it removes the risk of forced selling linked to pledges.

While Ola Electric has reiterated that the promoter-level transactions have no impact on operations or governance, analysts remain cautious. Most believe a sustained recovery will depend on stabilising market share, improving volumes and clearer execution in the core business.

For now, Ola Electric’s steep fall highlights the risks facing new-age mobility stocks as competition intensifies and investor tolerance for execution missteps narrows.