Shares of Ola Electric Mobility extended their losing streak for a third consecutive session on Tuesday, losing nearly 9% in three days, amid reports that two suppliers had filed insolvency petitions against the company’s wholly owned subsidiary over alleged unpaid dues.
On Tuesday, Ola Electric shares fell as much as 2.35% to ₹41.39 on the BSE. The stock had declined 4.68% on Monday after losing 2.2% on Friday.
At the time of writing, shares were trading marginally higher at ₹42.43, with a market capitalisation of around ₹19,638 crore.
Last week, the Bhavish Aggarwal-led Ola stock had rallied more than 11% in three sessions as investor sentiment improved after the Delhi government approved a new electric vehicle (EV) policy aimed at…