Here's why Ola Electric Mobility shares declined 4% on Muhurat Day trading

Ola Electric Mobility share price fell 4.16 per cent, hitting an intra-day low of ₹52.65 per share on the NSE.

Ola Electric Mobility Share Price: Shares of Bhavish Aggarwal-led electric vehicle company Ola Electric Mobility were under pressure on Tuesday, October 21, when the markets opened for Muhurat Day trading. The company’s share price fell 4.16 per cent, hitting an intra-day low of ₹52.65 per share on the NSE.

 

At 2:09 PM on Tuesday, Ola Electric shares were trading at ₹54.40 per share, down 0.98 per cent from the previous close of ₹54.94 per share. A combined total of nearly 45 million equity shares of Ola Electric, worth ₹24.08 crore, were exchanged on the BSE and NSE during the session.  CATCH STOCK MARKET MUHURAT TRADING 2025 UPDATES LIVE

 

Here’s why Ola Electric’s shares were under pressure on Muhurat Day trading:

The decline in Ola Electric Mobility’s stock came after the exchanges sought clarification from the company regarding a news report published on www.business-standard.com dated October 20, 2025, titled “Bhavish Aggarwal, Ola Electric execs booked after employee’s suicide.”

 

However, in response, Ola Electric, in an exchange filing, stated that the company has challenged the registration of the FIR before the Hon’ble High Court of Karnataka, and protective orders have been passed in favour of Ola Electric and its officials. It clarified that no chargesheet has been filed against the company or its officials.

 

"As part of our support to the bereaved family, the company promptly facilitated the full and final settlement to Aravind’s bank account. Ola Electric is fully cooperating with the authorities in their ongoing investigation and remains committed to maintaining a safe, respectful, and supportive workplace for all employees," the company said in a regulatory filing.

 

Ola Electric further stated that “the company is fully cooperating in the investigation under the FIR that has been registered. Since no chargesheet has been filed, there is no legal proceeding that requires disclosure."