Why is Ola Electric falling/rising?

As of 13-Aug, Ola Electric Mobility Ltd's stock price is currently at Rs 40.51, reflecting an increase of Rs 0.68 or 1.71%. The stock has shown some positive movement today, having outperformed its sector by 0.4%, and it has gained after five consecutive days of decline. However, despite this short-term uptick, the stock is still 2.3% away from its 52-week low and has experienced significant underperformance over the past year, with a return of -62.52%. The company's fundamentals remain weak, as it has reported operating losses and negative results for the last four consecutive quarters, which raises concerns about its long-term viability. Additionally, while institutional investors have increased their stake, indicating some confidence, the overall financial health of the company is still precarious, with a negative EBITDA and a poor ability to service its debt.
In the broader market context, the stock has shown a modest gain of 0.47% over the past week, while the benchmark Sensex has remained nearly flat with a change of -0.01%. Over the past month, Ola Electric has outperformed the Sensex, gaining 1.73% compared to the benchmark's decline of 2.38%. However, the stock's year-to-date performance is concerning, with a decline of 52.76% against the Sensex's increase of 3.07%. This stark contrast highlights the challenges Ola Electric faces in the market, as it struggles with poor long-term growth and significant operational losses, despite some recent positive movements in price and increased institutional interest.