Why is Ola Electric falling/rising?

As of 06-Aug, Ola Electric Mobility Ltd's stock is currently priced at Rs 40.32, reflecting a decrease of Rs 0.55 or 1.35%. The stock has underperformed today, falling after two consecutive days of gains, and is now trading close to its 52-week low, just 1.84% away from Rs 39.58. Over the past week, the stock has declined by 4.32%, and year-to-date, it has plummeted by 52.98%. The company's financial health is concerning, as it has reported operating losses and negative results for the last four consecutive quarters, with a significant drop in net sales and a negative EBITDA. Although institutional investors have increased their stake, indicating some level of confidence, the overall fundamentals remain weak, contributing to the stock's downward pressure.
In the broader market context, the Sensex has experienced a decline of 1.15% over the past week, which is less severe than Ola Electric's performance. While the benchmark has shown a slight positive return of 3.08% year-to-date, Ola Electric's significant drop highlights its struggles relative to the market. The stock's liquidity remains adequate for trading, but the falling investor participation, as evidenced by a 48.84% drop in delivery volume compared to the five-day average, suggests waning interest among retail investors. Overall, the combination of poor financial performance, negative growth trends, and underwhelming market participation contributes to the stock's current decline.