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Ola Electric shares drop 6% after misleading ad notice from consumer authority

hindustantimes.com — October 8, 2024 at 08:01 AM UTC

Ola Electric Mobility's shares fell over 6% after the Central Consumer Protection Authority issued a show cause notice for alleged misleading advertising. The stock dropped to ₹85.21, marking a fourth consecutive session of losses. The notice requires a response within 15 days but does not impose penalties. Ola Electric stated the notice will not affect its financial or operational activities. The decline follows a social media dispute between Ola's CEO and a comedian regarding service quality issues. Ola's stock has decreased 46% since reaching a high of ₹157.4 after its August listing.

With a significance score of 3.9, this news ranks in the top 11% of today's 18111 analyzed articles.

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Timeline:

[3.1]

Ola Electric receives show cause notice from consumer authority over alleged rights violations (timesnownews.com)

156d 3h

[2.5]

Harsh Goenka faces backlash for supporting Ola Electric amid service complaints (in.mashable.com)

156d 5h

[1.8]

Harsh Goenka pokes fun at Ola CEO amid feud with comedian Kunal Kamra (livemint.com)

156d 6h

[2.3]

Kunal Kamra and OLA CEO Bhavish Aggarwal engage in heated Twitter exchange over consumer issues (firstpost.com)

156d 6h

[2.1]

Harsh Goenka adds humor to Ola CEO Bhavish Aggarwal and comedian Kunal Kamra's feud (economictimes.indiatimes.com)

156d 8h

[2.3]

Harsh Goenka comments on Bhavish Aggarwal and Kunal Kamra's online spat (hindustantimes.com)

156d 11h

[4.0]

Ola Electric receives notice for consumer rights violations but sees no operational impact (economictimes.indiatimes.com)

157d 2h

[3.6]

Ola Electric faces show-cause notice as customer complaints rise (timesofindia.indiatimes.com)

157d 4h

[3.9]

Ola Electric shares drop 6% after misleading ad notice from consumer authority (hindustantimes.com)

157d 4h

[3.1]

Ola Electric shares fall 6% as consumer protection notice raises concerns (timesnownews.com)

157d 5h

[3.7]

Ola Electric shares fall 8% after CCPA issues notice over 10,000 user complaints (in.mashable.com)

157d 5h

[3.0]

Ola Electric Mobility shares drop 6% following consumer rights notice (businesstoday.in)

157d 7h

[3.9]

Ola Electric faces scrutiny as consumer complaints rise and shares drop 8% (economictimes.indiatimes.com)

157d 9h

[3.5]

Consumer protection authority issues notice to Ola Electric over nearly 10000 complaints (livemint.com)

157d 11h

[2.7]

Ola CEO responds to comedian Kunal Kamra's criticism of electric scooter service on social media (timesofindia.indiatimes.com)

157d 22h

[2.0]

Ola CEO Bhavish Aggarwal and comedian Kunal Kamra clash on Twitter over electric scooter issues (hindustantimes.com)

158d 1h

[2.4]

Ola CEO responds to comedian Kunal Kamra's criticism of service quality (timesnownews.com)

158d 2h

[2.6]

Ola CEO faces backlash for harsh responses to comedian's criticism (livemint.com)

158d 3h

[2.8]

Ola CEO faces backlash after online clash with comedian Kunal Kamra (in.mashable.com)

158d 4h

[3.0]

Ola AI criticizes CEO's response to comedian over electric vehicle service issues (news18.com)

158d 8h

[2.3]

Zomato CEO Deepinder Goyal praised for positive public engagement as Ola's Bhavish Aggarwal faces criticism (hindustantimes.com)

158d 9h

[2.8]

Ola Electric CEO faces backlash for harsh remarks in spat with comedian Kunal Kamra (hindustantimes.com)

158d 10h