** Ola Electric OLAE.NS falls as much as 5.1% to record low of 27.36 rupees

** Electric two-wheeler manufacturer extends fall after brokerages flag weak Q3 operating profit, question growth prospects

** OLAE currently down 2.2%; sheds 8.7% since Monday

** Citi downgrades to "sell" from "buy"; cuts PT to 27 rupees from 55 rupees, citing persistent headwinds to volume growth

** Says co's prospects of posting positive EBITDA hampered by poor perception of its scooters, service quality, which could take time to improve

** Adds key headwinds include improved affordability of combustion engine scooters, increased competition among EV players

** Notes negative free cash flow key area of concern

** Stock rated "hold" on average vs "strong buy" for larger rival Ather Energy ATHR.NS, per data compiled by LSEG

** Stock down 22% YTD