Shares of Ola Electric Mobility Ltd were in focus during Wednesday’s trading session after CNBC-TV18 reported that the company is set to face heightened government scrutiny over alleged non-compliance with motor vehicle regulations. The stock was last seen trading at ₹53.07 apiece on the NSE, up 0.99% from its previous close, with an intraday high of ₹54.44 and a market capitalization of ₹220.94 billion.
According to sources cited by CNBC-TV18, the Ministry of Transport is expected to issue a fourth notice to Ola Electric, citing concerns over the company running showrooms without valid trade certificates. The government will reportedly ask the company to provide detailed information about:
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The total number of Ola Electric showrooms operating in India
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Whether each store possesses a valid trade certificate
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The specific locations where these certificates are missing or valid
Additionally, the Ministry of Heavy Industries (MHI) has sought clarity over alleged discrepancies between registrations and actual sales. As part of the probe, four independent testing agencies have been instructed to examine complaints lodged against the EV manufacturer.
While Ola Electric shares rose marginally during early trade, the stock remained volatile as investors digested the developments. Market participants are expected to keep a close watch on any formal communication or clarification from the company in the coming days.
