Why is Ola Electric falling/rising?

As of 01-Sep, Ola Electric Mobility Ltd's stock is rising, with a current price of Rs 62.39, reflecting an increase of Rs 8.37 or 15.49%. The stock has shown strong performance today, outperforming its sector by 12.32% and opening with a gain of 2.02%. It reached an intraday high of Rs 63.75, indicating significant upward momentum. Over the past week, the stock has surged by 28.40%, and over the past month, it has increased by 53.71%. However, despite this recent positive movement, the company has faced challenges, including operating losses and a weak long-term fundamental strength, with a negative EBITDA and a decline in net sales and profit after tax over the last six months. Institutional investors have increased their stake, which may provide some support, but the overall financial health of the company remains a concern.
Broader market context indicates that while Ola Electric has performed well in the short term, the benchmark Sensex has declined by 1.56% over the past week and 0.29% over the past month. This suggests that the stock's recent rise is somewhat isolated, as it has significantly outperformed the broader market. However, the stock's year-to-date performance remains negative at -27.24%, and it has underperformed the market over the past year with a decline of 47.12% compared to the Sensex's drop of only 2.43%. This context highlights that while the stock is experiencing a short-term rally, it is still grappling with substantial long-term challenges that could affect its sustainability.