Why is Ola Electric falling/rising?

As of 30-Jun, Ola Electric Mobility Ltd is currently priced at Rs 43.17, reflecting a slight increase of 0.08 (0.19%). Despite this minor uptick, the stock has shown a significant decline over the past month, down 15.30%, and a staggering 49.66% year-to-date. Today's performance indicates a trend reversal as the stock has gained after three consecutive days of decline, although it remains close to its 52-week low, just 0.37% away. The stock is trading below all key moving averages, and there has been a decrease in investor participation, with delivery volume falling by 1.18% against the five-day average. The company's fundamentals are concerning, with operating losses and a negative EBITDA, alongside a drastic fall in net sales and negative results reported for the last three quarters, which collectively suggest a weak long-term outlook.
In the broader market context, the Sensex has outperformed Ola Electric, gaining 2.09% over the past week and 7.00% year-to-date, while Ola Electric's performance has been notably poor in comparison. The stock's recent rise, albeit minimal, does not reflect a recovery in fundamentals, as institutional investors have reduced their stakes, indicating a lack of confidence in the company's future prospects. The overall market sentiment appears to favor more stable investments, contributing to the stock's struggles against the benchmark.