Why is Ola Electric falling/rising?

As of 02-Jul, Ola Electric Mobility Ltd's stock is currently priced at Rs. 41.02, reflecting a decrease of Rs. 1.01 or 2.4%. The stock has underperformed significantly, with a 1-week return of -5.22% and a 1-month return of -23.60%. Today's performance highlights a new 52-week low of Rs. 40.82, with the stock experiencing a consecutive decline over the last two days, totaling a drop of -4.98%. The company has reported negative results for the last three consecutive quarters, including a drastic fall in net sales and operating profit, which has led to a weak long-term fundamental strength. Additionally, the stock is trading below all key moving averages, indicating a bearish trend, while institutional investor participation has decreased, further contributing to the stock's downward pressure.
In the broader market context, the Sensex has shown a positive return of +0.79% over the past week, contrasting sharply with Ola Electric's poor performance. The stock's significant underperformance relative to the benchmark, coupled with its weak financial fundamentals, suggests that investor sentiment is negative. The company's high debt-to-EBITDA ratio and declining operating profits have raised concerns about its ability to recover, making it a risky investment compared to its historical valuations. Overall, the combination of poor financial results, declining institutional interest, and a bearish technical outlook has led to the stock's current downward trajectory.