Investing.com -- Shares of Ola Electric Mobility have experienced a 3.5% fall, bringing their value down to 51.23 rupees.

This development comes in the wake of the Maharashtra government’s directive to regional transport offices, instructing them to close the company’s outlets operating without a valid trade certificate, as reported by the Economic Times.

In addition, Mint has reported that officials are planning to close 121 of the company’s nearly 450 stores in Maharashtra due to the lack of sales permits.

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