Why is Ola Electric falling/rising?

As of 25-Aug, Ola Electric Mobility Ltd's stock price is currently at Rs 48.59, reflecting an increase of Rs 1.41 or 2.99%. The stock has shown a positive trend today, gaining after two consecutive days of decline, and it outperformed its sector by 2.29%. The stock reached an intraday high of Rs 49.4, marking a rise of 4.71%. However, despite this short-term gain, the stock has experienced a significant decline of 61.50% over the past year and has reported negative results for the last four consecutive quarters, with a substantial operating loss and a weak ability to service its debt. Additionally, while institutional investors have increased their stake, indicating some confidence, the overall long-term fundamentals remain weak due to poor growth in operating profit and negative EBITDA.
In the broader market context, Ola Electric's short-term performance has been notably strong, with a 17.91% increase over the past week, significantly outperforming the Sensex, which only increased by 0.45% during the same period. However, the stock's year-to-date performance remains concerning, with a decline of 43.34% compared to the Sensex's gain of 4.48%. This juxtaposition highlights the stock's volatility and the challenges it faces despite recent positive movements. The overall market sentiment appears cautious, as the stock has underperformed against broader indices over longer periods, indicating potential risks for investors.