Ola Electric share price declined 4% on Thursday on reports of regulatory scrutiny of discrepancies in EV scooter registrations. Ola Electric shares declined as much as 4.05% to ₹51.64 apiece on the BSE.

According to media reports, the Ministry of Heavy Industries has sought clarification from Ola Electric Mobility regarding the mismatch between the company’s reported sales and actual vehicle registrations

The Maharashtra RTO authorities conducted inspections at several Ola showrooms, CNBC-TV18 reported. 

Ola Electric shares have declined 14% in one month and more than 54% in the past six months. The EV stock is down 40% on a year-to-date (YTD) basis.

At 11:10 AM, Ola Electric shares were trading 3.40% lower at ₹51.99 apiece on the BSE.