Why is Ola Electric falling/rising?

As of 08-Jul, Ola Electric Mobility Ltd is experiencing a decline in its stock price, currently at Rs 40.77, reflecting a decrease of -0.79 (-1.9%). The stock has been underperforming, as indicated by its performance today, where it has fallen consecutively for the last two days, resulting in a total decline of -2.32%. Additionally, the stock is trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The company has reported significant negative financial results, including a -100% fall in net sales and a -93.4% decrease in profit after tax compared to previous quarters. This has contributed to a weak long-term fundamental strength, with a high debt to EBITDA ratio and a negative EBITDA, making the stock a risky investment.
In the broader market context, the stock's performance over the past week shows a decline of -3.00%, while the benchmark Sensex has remained relatively flat with a slight increase of +0.02%. This underperformance is further highlighted by the company's substantial year-to-date decline of -52.45%, contrasting sharply with the Sensex's gain of +7.13%. The falling participation from institutional investors, who have reduced their stake by -0.82%, indicates a lack of confidence in the company's future prospects, which may further exacerbate the stock's downward trajectory. Overall, the combination of poor financial results, declining investor participation, and consistent underperformance relative to the benchmark suggests a challenging environment for Ola Electric.