Ola Electric's stock drops 4% amid scrutiny over sales data
What's the story
Ola Electric's shares have fallen 4% after reports of regulatory scrutiny over discrepancies in electric scooter registrations.
The Ministry of Heavy Industries has reportedly sought clarification from Ola Electric Mobility over the difference between the company's reported sales figures and actual vehicle registrations.
According to a CNBC-TV18 report, officials from the Maharashtra Regional Transport Office (RTO) visited several Ola showrooms.
Data mismatch
Discrepancies in sales figures raise concerns
Last month, Ola Electric claimed to have sold 25,000 vehicles. However, data from the Vahan portal only showed 8,600 vehicle registrations during that time.
This discrepancy raised questions over the accuracy of Ola Electric's sales data and increased regulatory scrutiny.
Transport authorities across several states have taken action against Ola Electric over missing valid trade certificates.
Regulatory actions
Maharashtra transport department initiates action against Ola Electric
The action against Ola Electric includes raids, showroom closures, vehicle seizures, and show-cause notices.
Reportedly, the Maharashtra Transport Department has also initiated proceedings against Ola Electric Mobility for alleged violations of trade certificates.
These regulatory measures have further affected Ola Electric's business and reputation in the market.
Stock trends
Ola Electric's stock performance over the past year
Ola Electric's shares have plummeted 14% in a month, and more than 54% in the last six months. The EV stock is down 40% on a year-to-date (YTD) basis.
Despite making a flat debut on the stock market in August 2025 at ₹76 apiece, Ola Electric's share price hit a high of ₹157.53 apiece on August 20, before facing heavy selling pressure and plummeting to ₹46.32 apiece on March 18 this year.