It’s Tuesday, January 20, 2026, and if you’re holding Ola Electric shares, you’re probably staring at the screen in disbelief. The stock just hit its 10th consecutive losing session, sliding another 6% today to settle around ₹34. Let’s be real—it’s a bloodbath. The company has lost more than half its value in just the last year. Or nothing.
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The “big news” today is the official exit of CFO Harish Abichandani, who’s been the money man since the 2024 IPO. He’s out for “personal reasons,” and in steps Deepak Rastogi, who used to be at Puravankara. Those too.
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The “Ola Slide”: Field Notes
It’s an ongoing situation where the “market leader” is being hunted by the old guard.
The New CFO: Deepak Rastogi takes over today. The thing is, he’s a veteran with three decades in capital-intensive sectors like real estate and manufacturing. He’s led 1 billion in equity deals, which Ola desperately needs right now as it grapples with stalling sales. Or nothing.
The Market Share Crash: The thing is, Ola used to own 50% of the e-scooter market. Now? They’ve slipped to 5th position in the first half of January 2026. Legacy giants like TVS and Bajaj, along with Ather, have basically eaten their lunch. Let’s be real—reliability and service issues are finally catching up.
The “Shakti” Pivot: To stop the bleeding, Bhavish Aggarwal is pivoting hard into home energy. They just got BIS certification for “Ola Shakti”—their new residential battery storage system powered by the 4680 Bharat Cell. The thing is, they’re promising it can run 4-5 ACs at once. Those too.
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Ola Electric Performance Tracker: Jan 20, 2026
| Metric | Current Status (Jan 20) | The “Ground” Reality |
| Share Price | ₹34.00 (-6%) | Near all-time low (IPO was ₹76). |
| Market Position | 5th in E-2W Sales | Overtaken by TVS, Bajaj, and Ather. |
| Leadership Change | Deepak Rastogi (New CFO) | Effective Jan 20; replaces Abichandani. |
| Revenue Forecast | Lowered | Fiscal 2026 guidance cut in Nov 2025. |
| New Product | Ola Shakti (BESS) | Deliveries start end of January. |
And Here’s the Kicker…
The thing is, the 4680 Bharat Cell is Ola’s “hail mary.” Or nothing. If those cells perform as promised in the new Shakti units and the Gen 3 scooters, they might claw back some margins. But and here’s the kicker—investor trust is at an all-time low. Even early backer SoftBank has been quietly trimming its stake, selling over 2% in the last few months. Those too.
One side comment—the floor for the stock seems to be around ₹30. If it breaks that, we’re in uncharted territory. It’s an ongoing situation where the “EV disruptor” is now the one being disrupted.
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End…
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