Why is Ola Electric falling/rising?

As of 04-Sep, Ola Electric Mobility Ltd's stock is currently priced at Rs 64.59, reflecting a decline of Rs 4.37 or 6.34%. Today's price summary indicates that the stock has underperformed its sector by 6.63%, with an intraday high of Rs 71.24 and a low of Rs 63.7, showcasing significant volatility with a wide trading range of Rs 7.54. Over the past week, the stock has seen a notable increase of 17.74%, but it has struggled year-to-date with a decline of 24.68% and a substantial drop of 41.68% over the past year. Despite some positive indicators such as increased institutional investor participation and trading above various moving averages, the company faces serious challenges, including operating losses, negative EBITDA, and a weak ability to service its debt, which have contributed to its recent price decline.
Broader market context shows that while the stock has performed well in the short term compared to the benchmark Sensex, which has only increased by 0.80% over the past week, the long-term outlook remains bleak. The stock's significant underperformance over the last year, with a return of -41.68% compared to the market's -1.98%, highlights the ongoing struggles of Ola Electric. The company's negative financial results, including consecutive quarters of losses and declining sales, have led to a perception of risk among investors, further influencing the stock's downward movement.