Ola Electric’s stock remained in the spotlight on Wednesday, trading at Rs 49.86 with an uptick of 1.07%, even as the aftershocks of a massive stake sale by Hyundai Motor and Kia Corporation continued to ripple through the market. Ola Electric’s stock drew attention on Wednesday following major exits by global automakers Hyundai Motor and Kia Corporation, who offloaded their remaining stakes in the company through large block deals. The combined transaction, valued at Rs 690 crore, saw Citigroup Global Markets Mauritius step in as a significant buyer. According to NSE bulk deal data, Hyundai sold 10.88 crore shares at Rs 50.70 apiece, raising Rs 552 crore. Kia sold 2.71 crore shares at Rs 50.55 each, amounting to Rs 138 crore. As of March 31, 2025, Hyundai held a 2.47% stake in Ola Electric. On the buy side, Citigroup acquired over 8.61 crore shares worth Rs 435 crore at Rs 50.55 per share—roughly 6% below the company’s closing price of Rs 53.69 on Monday. Following the deals, Ola Electric shares fell sharply, ending Tuesday at Rs 49.33, down 8.12%. The stock has lost 46% in six months, 11.4% in the past quarter, and 4.1% in the last week. However, it has shown a slight recovery of 3.7% over the past month. The timing of the stake sale coincides with Ola Electric’s weak March-quarter results. The company reported a consolidated net loss of Rs 870 crore, widening from Rs 416 crore a year earlier. Revenue fell to Rs 611 crore, down from Rs 1,598 crore. For FY25, the firm’s net loss stood at Rs 2,276 crore, while annual revenue dropped to Rs 4,514 crore from Rs 5,010 crore in FY24.