Why is Swiggy falling/rising?

As of 04-Aug, Swiggy Ltd's stock price is currently at 399.10, reflecting an increase of 6.75 or 1.72%. The stock has shown a mixed performance recently, with a 1-week decline of 2.03% while it has gained 4.05% over the past month. Today's trading saw the stock reach an intraday high of Rs 402.9, but it also dipped to a low of Rs 381.9. Notably, there has been a significant rise in investor participation, with delivery volume increasing by 161.9% compared to the 5-day average. However, the company faces challenges, including operating losses and a weak ability to service its debt, which has contributed to its negative EBITDA and overall weak long-term fundamental strength.
In the broader market context, Swiggy's recent performance contrasts with the Sensex, which has seen a slight increase of 0.16% over the past week. While Swiggy's stock has experienced a decline year-to-date of 26.17%, the benchmark has gained 3.69% in the same period. The high institutional holdings at 20.91% may provide some support, as these investors typically have better resources to analyze the company's fundamentals. However, the company's flat results and significant losses reported in June, along with a negative EBIT to interest ratio, indicate ongoing risks that could hinder its recovery despite the recent uptick in stock price.