The rupee gained 42 paise to close at 91.51 (provisional) against the U.S. dollar on Monday (February 2, 2026), a day after the Union Budget 2026-27 was presented, largely as crude oil prices retreated from their elevated levels. Also Read | Rupee hits all-time low of 92 against U.S
The Union Budget 2026 has proposed a significant change that directly affects investors who borrow funds to invest in dividend-paying stocks or mutual funds. The proposal removes the existing tax benefit that allowed investors to claim a deduction on interest paid for such borrowings
West Bengal emerged as a major beneficiary of railway-led infrastructure expansion this weekend, with a series of announcements signalling a significant boost for connectivity in the state, particularly in North Bengal. A day after the Ministry of Railways cleared three new railway line projects
Hours before she was scheduled to lead a Trinamool Congress (TMC) delegation to meet Chief Election Commissioner Gyanesh Kumar in Delhi over the Special Intensive Revision (SIR) of electoral rolls, West Bengal Chief Minister Mamata Banerjee on Monday alleged that Bengalis in the Capital were being
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Ola Electric to lay off about 5% of workforce amid ‘structural transformation’
Ola Electric to lay off about 5% of workforce amid ‘structural transformation’
Bhavish Aggarwal-run electric two-wheeler company Ola Electric on Friday announced to lay off approximately 5 per cent of the workforce owing to the “ongoing structural transformation”.
New Delhi: Bhavish Aggarwal-run electric two-wheeler company Ola Electric on Friday announced to lay off approximately 5 per cent of the workforce owing to the “ongoing structural transformation”. In a statement, the company said it is “doubling down on speed and discipline through increased automation across its frontend operations”.
“As part of this ongoing structural transformation, approximately 5 per cent of the workforce will be impacted,” Ola Electric said. It further said that it remains focused on delivering a stronger customer experience and building a leaner organisation positioned for long-term, profitable growth.
“Ola Electric continues to focus on its business turnaround, building on the early gains delivered through Hyperservice and its service-led execution reset, with same-day resolution now being delivered to over 80 per cent of service requests nationwide,” the company stated.
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The job retrenchment comes as India's electric two-wheeler market saw a major shift in 2025, with Ola Electric losing a large part of its market share, while traditional auto companies strengthened their position. Ola Electric's market share dropped sharply to 16.1 per cent in 2025 from 36.7 per cent in 2024.
The sharp fall highlighted the growing challenges Ola Electric faced through the year. Ola Electric's troubles were also linked to operational issues, including customer complaints related to service delays and inconsistent deliveries.
The electric two-wheeler maker reported a consolidated net loss of Rs 418 crore in second quarter of the current financial year (Q2 FY26). The revenue from operations of the firm also followed suit and dropped nearly 43 per cent year-on-year to Rs 690 crore in Q2, compared to Rs 1,214 crore in Q2 FY25.
In an earlier exchange filing, the firm said that “For the Auto segment, we expect lower volumes than the Q1 guidance as we continue to focus on margin and cash discipline in a hyper competitive market”.
Source: ZeeNews
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