Ola Electric turmoil: Hyundai-Kia exit Rs 690 cr; Citigroup buys in as stock struggles

Ola Electric’s stock experienced a slight increase of 1.07% to Rs 49.86 amidst the aftermath of Hyundai and Kia’s stake sale. The automakers divested their remaining shares for Rs 690 crore, with Citigroup acquiring a significant portion. This transaction occurred alongside Ola Electric’s reported net loss of Rs 870 crore in the March quarter.