Shares of . slumped 9 per cent on Tuesday after the electric vehicle maker disclosed a key leadership change at the top of its finance function.
The company confirmed that Deepak Rastogi will take over as Chief Financial Officer (CFO) effective today, succeeding Harish Abichandani, who resigned from the position with effect from the close of business on January 19, 2026.
The stock ended 9 per cent lower at ₹32.56, hitting a low of ₹32.17 on the against the previous close of 35.73.
In its regulatory filing to stock exchanges, Ola Electric said the board approved Rastogi’s appointment at a meeting held on January 19.
The new CFO brings more than three decades of experience across finance, strategy, and governance roles. He will also be designated as a key managerial personnel and will be part of the company’s senior management team.
The leadership transition comes at a time when the company is facing operational and market-related challenges.
Ola Electric’s stock has been volatile since its public listing. After an initial rally post-, the shares have been under pressure due to intensifying competition in India’s electric two-wheeler segment and a slowdown in sales growth.
Ola Electric remains under pronounced bearish pressure, according to Aakash Shah, Technical Research Analyst at Choice Equity Broking, marking its 10th straight session of decline and shedding nearly 25 per cent during this period, which reflects persistent distribution and fragile market sentiment. “On the daily timeframe, the stock continues to trade decisively below all key moving averages, underscoring a well-established downtrend.
“Volume analysis shows elevated volumes during down days, suggesting active distribution, while minor upticks have occurred on comparatively lower volumes — a sign of weak buying interest and absence of strong accumulation.”
“As long as the stock remains below the ₹40–43 zone and fails to close above the short-term moving averages, the overall bias is expected to stay negative, with rallies likely to be sold into rather than sustained, Shah stressed.
Competitors such as TVS Motor, Bajaj Auto, Ather Energy, and Hero MotoCorp have steadily gained ground in market share.
The company also recently revised its revenue outlook for FY26 amid softer demand, which has added to concerns around its near-term growth prospects.