Why is Ola Electric falling/rising?

As of 09-Jul, Ola Electric Mobility Ltd's stock price is currently at Rs. 40.40, reflecting a decrease of Rs. 0.37 or 0.91%. The stock has been underperforming significantly, with a decline of 1.51% over the past week and a substantial drop of 18.02% over the past month. Today, the stock hit a new 52-week low of Rs. 40.15 and has experienced a consecutive fall over the last three days, totaling a decline of 3.21%. The company's performance is further hindered by poor financial results, including a 100% fall in net sales and a negative operating profit, which have contributed to a weak long-term fundamental strength. Additionally, there has been a notable decrease in investor participation, with delivery volumes falling by 44.11% against the five-day average, indicating waning interest from investors.
In the broader market context, the Sensex has shown a slight increase of 0.15% over the past week, contrasting sharply with Ola Electric's negative performance. The stock's year-to-date return is down by 52.89%, while the benchmark has gained 6.91% in the same period. This stark difference highlights the challenges faced by Ola Electric, particularly in light of its declining sales and operating losses, which have led to a reduction in institutional investor stakes. The overall market sentiment appears to be more favorable compared to the company's specific challenges, further exacerbating the stock's downward trajectory.