Ola Electric Mobility Ltd's stock has fallen by nearly 10% after it said on 25 December that it would expand its network to 4,000 outlets from 800 to improve customer service. While this should have been perceived as a positive, within 48 hours of the announcement, a fresh problem cropped up.
The fall in stock price may be attributed to old unconfirmed reports of key managerial personnel quitting the company. Ola confirmed this on Friday after market hours. Suvonil Chatterjee, the company's chief technology and product officer; and Anshul Khandelwal, chief marketing officer, have quit.
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