Ola Electric shares tumble over 7 pc; hit 52-week low

Shares of Ola Electric Mobility Ltd tanked over 7 per cent on Monday morning after the firm said its vehicle registration service provider Rosmerta Digital Services Ltd has sought the initiation of insolvency proceedings against its wholly-owned arm Ola Electric Technologies Pvt Ltd. The stock slumped 7.12 per cent to hit a 52-week low of Rs 46.94 on the BSE.