Ola Electric Share Crashes To Rs 90 As Angry Customers Flood Social Media

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by Shambhu Datta Mishra

NEWS HIGHLIGHTS

The Ola Electric share nosedived to Rs 90.26 apiece, a drop of 8.5 per cent from the last trading session

It saw 24,665 e-scooter sales last month, from 27,587 units sold in August, according to the government transportation portal Vahan

Mumbai, Oct 7: Bhavish Aggarwal-led Ola Electric saw its stock crashing to about Rs 90 a piece in the morning trade Monday, as aggrieved customers flooded social media platforms again with a myriad of issues with its flagship electric two-wheeler.

The Ola Electric share nosedived to Rs 90.26 apiece, a drop of 8.5 per cent from the last trading session.

The EV firm debuted on the stock market with Rs 76 and even touched Rs 157.40, before crashing like a pack of cards over innumerable hardware and software issues with its e-scooters and poor conditions at its service centres across the country.

Since touching the all-time high, the company’s share is trading around 42-43 per cent lower.

The EV firm continues to lose its market share in the Indian EV market and in September, its share further dropped to 27 per cent amid rising competition as well as its crippling service centres. It saw 24,665 e-scooter sales last month, from 27,587 units sold in August, according to the government transportation portal Vahan.

Ola Electric’s rivals have launched newer models which are priced closer to those of Ola, as its flagship S1 series EV scooter has become a nightmare for hundreds of customers who are consistently facing issues like malfunctioning hardware and glitching software and spare parts are hard to come by, resulting in inordinate delays.

As per trade analysts, the stock is currently loss-making and trading at high valuations.

An aggrieved Ola Electric customer torched its showroom in Karnataka last month, as the company's social media platforms were flooded with complaints about its EV scooters. As per reports, Ola Electric receives around 80,000 complaints monthly.

(IANS)

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India Top Lima Junior Worlds With 24 Medals

by Shambhu Datta Mishra

Lima, Oct 7: Junior shooters capped off a dominant performance with a gold medal in the men’s 50m pistol team event at the ISSF Junior World Championship Rifle/Pistol/Shotgun, as India topped the medal tally with 13 gold, three silver and eight bronze medals.

Italy was second with five gold and four silver and bronze medals each, while Norway placed third with four gold and a total of 10 medals.

The junior men’s 50m pistol team of Deepak Dalal (545), Kamaljeet (543) and Raj Chandra (528) combined for a tally of 1616, to put it across Azerbaijan by a point. Armenia was third.

Mukesh Nelavalli also won an individual bronze in the event, his sixth medal of the competition, shooting a total of 548 over 60-shots. Azerbaijan’s Imran Garayev won gold with a score of 552.

In the junior women's 50m pistol, Parisha Gupta won an individual silver shooting 540. She could not overhaul Hungary’s Miriam Jako’s effort of 546, which was a junior world record.

Sejal Kamble (529), Ketan (525) and Kanishka Dagar (513) also combined to win Indian a team silver in the event, finishing behind team Azerbaijan. Divanshi, the fifth Indian in fray, shot 523 to finish eighth.

In the other event of the final day, Shardul Vihan and Sabeera Harris combined to give India a bronze in the junior mixed team trap competition, played over 75 targets each. Shardul shot 71 to Sabeera’s 67, as the duo’s total of 138, was behind the scores of gold-winning Czech Republic (141+8) and silver winning Italy (141+7).

Zuhair Khan and Bhavya Tripathi, the second Indian pair in the event, shot a total of 134 to finish joint sixth.

The ISSF bandwagon now moves to New Delhi for the final stop of its 2024 calendar as the season-ending ISSF World Cup Final Rifle/Pistol/Shotgun is scheduled from October 13 to 18 at the Karni Singh Shooting Range.

(IANS)

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Chennai Airshow Deaths Due To Excessive Heat, Says TN Minister

by Shambhu Datta Mishra

Chennai, Oct 7: Tamil Nadu Health Minister Ma Subramanian Monday said the deaths that occurred after the Indian Air Force airshow were due to scorching heat and not because of any management issues.

In a statement, the Minister said, “The government has not said that there were no deaths...There is no need to politicise the issue."

Ma Subramanian also said the deaths were not due to negligence on the part of the government and added that the deaths were due to excessive heat and exhaustion. He added that the state police had provided adequate security to the event and had deployed 6,500 cops and 1,500 Home Guard volunteers.

The Minister in the statement also said that 40 ambulances and paramedics were deployed for the event. He further said, “The heat was unbearable and people could not handle the heat.”

Ma Subramanian said the Indian Air Force had clearly warned the people attending the airshow that the temperature was expected to be high. He said the Air Force had directed people attending the show to carry water bottles, wear hats and sunglasses during the event.

He said the government had made proper arrangements for toilets, drinking water and medical facilities. The Minister added that it was a big achievement to conduct such a huge programme with almost 15 lakh people attending the airshow.

The Health Minister in the statement said that seven people were admitted to hospitals and five lost their lives. He said that 43 people were brought to the Rajiv Gandhi Government hospital in Chennai of which one was brought dead. Two were admitted to the hospital and 40 were treated as outpatients.

He said that 49 people were brought to the Omandurar government medical college and hospital and added that of these two were brought dead. One was admitted to the hospital and 46 were treated as outpatients.

Ma Subramanian said that two people were brought dead at the Royapettah government hospital and one was undergoing treatment.

(IANS)

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Rajkummar Rao, Patralekhaa Mourn Loss Of ‘Gaga’

by Pabitra Mohan Senapaty

Mumbai, Oct 7: Bollywood couple Rajkummar Rao and Patralekhaa have expressed their grief over losing their pet dog Gaga, whom they tagged as their “anchor and baby”.

Rajkummar and Patralekhaa took to Instagram, where they shared a post featuring a slew of images and moments they shared with Gaga, their Yorkie. The photographs had Gaga looking adorable with hair clips, the actors lovingly holding her in their arms and even playing with their four-legged furry friend.

“Gaga , our angel our anchor our baby…Thank you for the most beautiful years. You guided us grounded us through happiness & through deep sorrows, through sadness & through laughters .Thank you for looking after us,” the post was captioned.

The caption further read: “Mummy Papa will miss you the most. Please meet us in every life time. You will always be our most precious baby. We Love You. Om Shanti.”

Bollywood actor Vijay Varma sent in his condolence for the star couple over their loss and wrote: “Oh no. Sorry to hear.. big hug to you both.”

On the work front, Rajkummar will next be seen along with Triptii Dimri in the upcoming film “Vicky Vidya Ka Woh Wala Video”, which also stars Mallika Sherawat, Rakesh Bedi and Vijay Raaz.

The film follows the story of a couple who decide to film their first night as a souvenir. It all seems fine until the CD in which they stored their video gets stolen along with the CD player.

Rajkummar, who is currently basking in the success of his latest release “Stree 2”, in August shared the first look from his next action thriller film “Maalik,” which is directed by Pulkit, who has previously helmed "Dedh Beegha Zameen", "Bose: Dead/Alive" and "Bhakshak".

This will be the first time Rajkummar will be seen playing the role of a gangster in an action thriller. The film shoot is now in progress, with an extensive schedule planned across various locations in India.

“Maalik” is produced by Kumar Taurani under the Tips Films banner and Jay Shewakramani's Northern Lights Films.

Meanwhile his wife Patralekhaa, was last seen in “IC 814: The Kandahar Hijack”, a crime thriller drama mini series about the hijacking of Indian Airlines Flight 814 in 1999.

--IANS

Ola Electric Share Crashes To Rs 90 As Angry Customers Flood Social Media

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