Why is Ola Electric falling/rising?

As of 23-Jun, Ola Electric Mobility Ltd's stock is currently priced at Rs 43.32, reflecting a decline of Rs 2.73, or 5.93%. The stock has underperformed significantly, with a 1-week return of -7.40% and a 1-month return of -18.13%. Today's performance saw the stock hit a new 52-week low of Rs 43.15, indicating a day’s low of -6.3%. The company has faced substantial challenges, including operating losses and a 100% fall in net sales, leading to negative results for the last three consecutive quarters. The company's weak long-term fundamentals, characterized by a high debt-to-EBITDA ratio and declining operating profit, contribute to the stock's downward trajectory. Furthermore, a decrease in institutional investor participation, which has fallen by 0.82%, suggests a lack of confidence in the stock's future performance.
In the broader market context, the Sensex has shown a slight positive return of 0.12% over the past week, contrasting sharply with Ola Electric's significant decline. This disparity highlights the stock's underperformance relative to the benchmark index, indicating that while the overall market remains stable, Ola Electric is struggling due to its specific financial issues and negative investor sentiment. The stock's liquidity remains adequate for trading, but the persistent negative trends in its financial performance and the lack of institutional support suggest that the downward pressure on its price is likely to continue.