Why is Ola Electric falling/rising?

As of 27-Jun, Ola Electric Mobility Ltd is currently priced at Rs. 43.09, reflecting a decrease of Rs. 0.08 or 0.19%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 1.19% during this period. Today, it hit a new 52-week low of Rs. 43.01. The stock has significantly underperformed the sector by 0.64% and has shown a steep decline of 17.91% over the past month and 49.75% year-to-date. The company's financial health is concerning, with operating losses and a negative EBITDA, compounded by a 100% drop in net sales and a PAT of Rs -870.00 crore, which is a 93.4% decline compared to the previous four-quarter average. Additionally, institutional investor participation has decreased, indicating a lack of confidence in the company's long-term prospects.
In the broader market context, the Sensex has gained 2.00% over the past week and 3.07% over the past month, contrasting sharply with Ola Electric's 6.43% and 17.91% declines, respectively. This disparity highlights the stock's significant underperformance relative to the benchmark. The overall market appears to be stable or improving, while Ola Electric's weak fundamentals and declining investor interest suggest a challenging environment for the company, further contributing to its falling stock price.