Why is Ola Electric falling/rising?

As of 03-Jul, Ola Electric Mobility Ltd is experiencing a decline in its stock price, currently at Rs. 40.58, which reflects a decrease of Rs. 0.44 or 1.07%. The stock has underperformed significantly, with a 6% drop over the past week and a staggering 17.74% decline over the past month. Today's performance indicates that the stock has hit a new 52-week low of Rs. 40.42 and has been on a consecutive downward trend for three days. The company has reported negative financial results, including a 100% fall in net sales and significant operating losses, leading to a weak long-term fundamental strength. Additionally, the stock is trading below all key moving averages, and institutional investor participation has decreased, indicating a lack of confidence in the company's future prospects.
In the broader market context, while the Sensex has shown a slight decline of 0.62% over the past week, Ola Electric's performance has been considerably worse, highlighting its struggles compared to the benchmark. The stock's year-to-date performance is particularly concerning, with a decline of 52.68%, contrasting sharply with the Sensex's gain of 6.53%. This stark difference underscores the challenges faced by Ola Electric, including poor growth metrics and a high debt-to-EBITDA ratio, which further diminishes investor confidence and contributes to the stock's downward trajectory.