Why is Ola Electric falling/rising?

As of 31-Jul, Ola Electric Mobility Ltd's stock price is currently at Rs 41.33, reflecting a decrease of Rs 0.81 or 1.92%. The stock has underperformed its sector by 1.79% today and is trading below all its moving averages, indicating a bearish trend. Additionally, the stock is close to its 52-week low, just 4.23% away from Rs 39.58. Over the past week, the stock has declined by 3.00%, and year-to-date, it has seen a significant drop of 51.80%. The company has also reported negative results for the last four consecutive quarters, with a substantial operating loss and a weak ability to service its debt, contributing to its declining stock performance. Although institutional investors have increased their stake, the overall financial health of the company remains concerning, with negative EBITDA and poor long-term growth prospects.
In the broader market context, the Sensex has decreased by 1.22% over the past week, indicating that the overall market sentiment is also bearish, although not as severely as Ola Electric's stock. The company's year-to-date performance starkly contrasts with the Sensex, which has gained 3.90% during the same period. This suggests that while the market may be experiencing some volatility, Ola Electric is facing more significant challenges, leading to its substantial underperformance compared to the benchmark.