Why is Ola Electric falling/rising?

As of 25-Jun, Ola Electric Mobility Ltd is experiencing a decline in its stock price, currently at Rs 43.28, which reflects a decrease of Rs 0.33 or 0.76%. The stock is close to its 52-week low, just 0.3% away from Rs 43.15. In terms of performance, it has underperformed its sector by 1.23% today and is trading below its moving averages across various time frames. Over the past week, the stock has dropped by 6.16%, and it has seen a significant decline of 18.20% over the past month, with a year-to-date drop of 49.53%. The company's financial health is concerning, as it has reported operating losses and a drastic fall in net sales, leading to negative results for three consecutive quarters. Additionally, institutional investor participation has decreased, indicating a lack of confidence in the company's long-term prospects.
In the broader market context, while the Sensex has shown a positive return of 1.61% over the past week, Ola Electric's performance starkly contrasts with this trend. The company's weak fundamentals, highlighted by a high Debt to EBITDA ratio and a significant decline in operating profit, contribute to its risky trading status. The overall market sentiment appears to favor more stable investments, as evidenced by the positive returns of the benchmark index compared to Ola Electric's substantial losses. This divergence suggests that investors are wary of the company's ability to recover, further impacting its stock price negatively.