Why is Ola Electric falling/rising?

As of 01-Jul, Ola Electric Mobility Ltd's stock is currently priced at Rs. 42.03, reflecting a decline of Rs. 1.14 or 2.64%. The stock has underperformed significantly, with a 1-week return of -3.62% and a 1-month return of -17.54%. Today, the stock hit a new 52-week low of Rs. 41.85 and traded lower than all its moving averages. The company's performance has been negatively impacted by a substantial operating loss and a 100% fall in net sales, leading to very negative quarterly results. Additionally, there has been a notable decrease in investor participation, with delivery volume dropping by 49.28% against the 5-day average, and institutional investors reducing their stake, indicating a lack of confidence in the company's long-term fundamentals.
In the broader market context, the Sensex has shown resilience with a 2.00% gain over the past week and a 2.76% increase over the past month, contrasting sharply with Ola Electric's poor performance. This divergence highlights the stock's struggles against a generally positive market backdrop. The company's weak financials, including a high debt-to-EBITDA ratio and declining operating profit, further exacerbate its challenges, making it a risky investment compared to its historical valuations. Overall, the combination of negative financial results and declining investor interest has contributed to the stock's downward trajectory.