Ola Electric Shares Rebound 14% After Prolonged Decline

After plunging 7% yesterday, shares of Ola Electric surged nearly 14% to INR 53.48 during the intraday trading today

The jump in shares came as the broader market also saw a rally today. Benchmark indices Sensex and Nifty 50 were up 1.23% and 1.19%, respectively. 

The EV company’s subsidiary Ola Electric Technologies is facing an insolvency petition for allegedly defaulting on its payment obligations

After a steep decline over the last few months, shares of Ola Electric zoomed 14% to INR 53.48 during early trading…