Why is Ola Electric falling/rising?

As of 10-Jul, Ola Electric Mobility Ltd's stock price is currently at Rs. 39.97, reflecting a decrease of -0.43 (-1.06%). The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of -4.24% during this period. Additionally, the stock has hit a new 52-week low today. Over the past week, it has underperformed the sector by -0.41%, and its performance over the last month shows a significant decline of -18.46%. The company's financial health appears weak, with operating losses and a negative EBITDA, compounded by a drastic fall in net sales and persistent negative results over the last three quarters. Institutional investor participation has also decreased, indicating a lack of confidence in the company's fundamentals.
In the broader market context, the Sensex has shown a slight increase of +0.97% over the past month, contrasting sharply with Ola Electric's significant decline. This indicates that while the overall market is experiencing modest gains, Ola Electric is struggling considerably. The stock's performance is further highlighted by its poor returns compared to the benchmark, with a year-to-date decline of -53.39% against the Sensex's +6.46%. This stark difference underscores the challenges faced by Ola Electric, including its weak long-term growth prospects and high debt levels, which are contributing to its current downward trajectory.