Ola Electric's stock continued its downward spiral on Tuesday, January 20. The shares fell another 4%, extending losses to a full ten sessions in a row. This persistent decline comes right after the company's chief financial officer, Harish Abichandani, stepped down from his role.
CFO Resignation Triggers Market Reaction
In a filing with the stock exchange on Monday, Ola Electric announced the resignation of Harish Abichandani. The board noted that his departure took effect at the close of business on January 19, 2026. Investors reacted swiftly to this news, pushing the stock lower as trading resumed.
New CFO Steps In Immediately
At the same time, the board moved quickly to fill the vacancy. They approved the appointment of Deepak Rastogi as the new chief financial officer. His tenure began on January 20, 2026. Rastogi will also serve as a Key Managerial Personnel and join the Senior Management team.
The market is closely watching how this leadership change will impact Ola Electric's financial strategies. The electric two-wheeler maker faces intense competition in India's growing EV sector. Shareholders are hoping for stability after this extended period of stock price weakness.
