Ola Electric Shares Decline Amid CFO Resignation and New Appointment

Ola Electric Mobility's shares fell for the tenth consecutive session, dropping over 25% amid the resignation of CFO Harish Abichandani, who cited personal reasons. Deepak Rastogi, former CFO of Puravankara, was appointed as his successor effective January 20, 2026. Since its 2024 IPO, Ola Electric has faced slowing sales and market share losses to competitors, leading to a revised fiscal 2026 revenue forecast. The company also launched 'Ola Shakti,' India's first residential Battery Energy Storage System powered by indigenous 4680 Bharat Cells.