Why is Ola Electric falling/rising?

As of 23-Sep, Ola Electric Mobility Ltd's stock price is currently at 58.23, reflecting an increase of 0.31 or 0.54%. The stock has shown a positive performance today, outperforming its sector by 0.88% and has gained consecutively over the last two days, with a total return of 0.99% during this period. However, despite a recent uptick, the stock has underperformed in the longer term, with a decline of 1.84% over the past week and a significant drop of 32.09% year-to-date. The company has seen a decrease in delivery volume by 51.79% compared to the five-day average, indicating falling investor participation. While institutional investors have increased their stake by 1.51%, the company continues to face challenges with operating losses and negative results over the last four quarters, which may be contributing to the stock's volatility.
Broader market context shows that while the Sensex has experienced a slight decline of 0.34% over the past week, Ola Electric's performance has been notably worse, reflecting a broader trend of underperformance with a year-over-year return of -46.21% compared to the market's -3.33%. The stock's current price movement, despite the recent gains, is overshadowed by its weak long-term fundamentals and negative EBITDA, making it a risky investment relative to its historical valuations. Overall, while there are some positive indicators such as increased institutional participation, the persistent operational challenges and significant losses continue to weigh heavily on the stock's performance.