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Ola Electric share price rebounded 5% to ₹29.35 apiece on Wednesday, February 18, after declining for four sessions straight, declining over 9%. The electric two-wheeler maker's stock witnessed a bounce back after the Bombay High Court (HC) ordered a stay on the warrant issued by the District Consumer Commission of Goa.

“The Hon’ble High Court of Bombay at Goa has stayed the warrant issued by the District Consumer Commission, South Goa. Additionally, the Hon’ble Court observed that the Commission exceeded its jurisdiction under the Consumer Protection Act in issuing the warrant. The Company requests that due note be taken of the aforesaid factual legal position,” the company said in the filing.

According to a CNBC TV18 report, the warrant was issued after Bhavish Aggarwal allegedly failed to appear before the commission despite being served a notice. The matter stems from a complaint filed by Pritesh Chandrakant Ghadi concerning problems with an Ola S1 Pro Second Gen scooter that reportedly continued even after repairs.

The complainant has sought a refund of ₹1.47 lakh, along with ₹50,000 as compensation for harassment and mental distress, in the case involving Ola Electric, the report said.

On Wednesday, the trading volume of the Ola Electric stock stood at 7.8 crore on NSE, as of 11:37 am.

Ola Electric Mobility reported revenue of ₹504 crore for the December quarter, marking a 57% year-on-year (YoY) drop from ₹1,172 crore and a 33% quarter-to-quarter (QoQ) decline compared with ₹756 crore in the September quarter.

The company posted a net loss of ₹487 crore during the period, narrower than the ₹564 crore loss recorded a year ago but wider than the ₹418 crore loss reported in the preceding September quarter.

Deliveries fell 38% sequentially and 61% YoY to 32,680 units, down from 52,666 units in Q2 and 84,029 units in the same period last year.

Meanwhile, the adjusted operating EBITDA loss widened 25% QoQ to ₹323 crore from ₹258 crore in Q2, but improved 34.6% compared to ₹494 crore reported in Q3 FY25.

Ola Electric share price has remained under pressure in the near term as it has fallen nearly 11% in a week and over 25% in a month and year-to-date (YTD). The stock has further descended 53.38% in last one year.

According to Harshal Dasani, Business Head, INVasset PMS, Ola Electric has been witnessing heightened volatility, and from a technical standpoint the stock is currently in a price-discovery phase after its listing cycle.

He noted that primary trend of the stock remains weak as it continues to trade below its key moving averages, particularly the 50-day and 200-day averages, indicating that momentum is yet to turn decisively positive.

“For a meaningful technical reversal, the stock needs to form a higher-low structure on the daily chart and sustain above immediate resistance zones with strong volume expansion. Until that confirmation comes, rallies may be treated as pullbacks rather than trend reversals,” Dasani said.

Meanwhile, Hitesh Tailor, Technical Research Analyst at Choice Broking, believes that for any meaningful upside, a shift in trend structure supported by strong volumes and positive fundamental triggers would be essential.

“The stock remains firmly entrenched in a downtrend, marked by a consistent lower-high and lower-low formation, reflecting sustained selling pressure. Until then, traders are advised to remain cautious and avoid fresh long positions unless a clear technical and fundamental confirmation emerges,” Tailor added.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes o...

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