Why is One Mobikwik falling/rising?

As of 18-Jun, One Mobikwik Systems Ltd is experiencing a decline in its stock price, currently at Rs 245.70, which reflects a decrease of Rs 23.6 or 8.76%. The stock has underperformed its sector by 8.28% today and has fallen after two consecutive days of gains. It reached an intraday low of Rs 243, indicating significant volatility with an intraday fluctuation of 5.62%. Over the past week, the stock has dropped by 12.72%, and it has shown a year-to-date decline of 58.14%. The company's operating losses and negative results over the last two quarters, including a substantial drop in profits and net sales, contribute to its weak long-term fundamental strength. Additionally, a significant reduction in institutional investor participation, which has decreased by nearly 40%, further exacerbates the stock's downward trend.
In the broader market context, the Sensex has only declined by 1.30% over the past week, indicating that One Mobikwik's performance is significantly worse than the overall market. While the benchmark has shown a positive return of 4.23% year-to-date, One Mobikwik's drastic decline highlights its struggles relative to the market. The company's poor financial health, characterized by negative EBITDA and a substantial drop in operating profit, suggests that investor confidence is waning, leading to a lack of participation and further pressure on the stock price.