Ola Electric Share Price: The good days of Ola electric mobility are not coming back. The clouds of crisis that have loomed over the company after its listing on the stock exchange are not showing any sign of going away even in 2025. Stock market regulator SEBI has written a letter and reprimanded the electric vehicle manufacturing company, warning it for violating market disclosure.
Reprimanded on social media post
SEBI has issued this rebuke regarding the post on social media of the company’s CMD Bhavish Aggarwal in which a big announcement was made on social media without giving official information to the stock exchange. Ola Electric Mobility itself has shared the warning received from SEBI in its regulatory filing with the stock exchanges.
SEBI angry on Bhavish Aggarwal’s post
SEBI wrote in its letter addressed to Ola Electric Mobility and Bhavish Aggarwal that, the company informed the stock exchanges under the disclosure rules on 2 December 2024 that the company is going to increase the number of its stores four times from 20 December 2024. . SEBI said, this information has been shared with BSE at 1:36 pm on December 2, 2024 and with NSE at 1:41 pm. Whereas the company’s CMD Bhavish Aggarwal had announced this on X on December 2, 2024 at 9:58 am.
advice to follow the rules
SEBI said in its letter, under the regulation, it is necessary for the listed company to first disclose any information to the stock exchange. In this case, it was found that the company had not shared this information with the stock exchanges earlier. SEBI said, this violation has been taken very seriously by the regulator and you are advised with caution that the compliance standards will be improved in future under SEBI rules. And if this is not done, action will be taken under SEBI rules.
The stock of Ola Electric opened with a decline of 2 percent in the pre-open session, which had closed at Rs 79.16 in the previous session.
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