Why is Swiggy falling/rising?

As of 28-Aug, Swiggy Ltd's stock price is currently at Rs 420.95, reflecting a decrease of Rs 10.05 or 2.33%. The stock has underperformed its sector by 0.59% today, having touched an intraday low of Rs 420, which represents a decline of 2.55%. Over the past week, the stock has decreased by 3.24%, while it has shown a modest increase of 3.34% over the past month. However, year-to-date, the stock has significantly underperformed with a decline of 22.13%. The company is facing challenges such as operating losses and a negative EBITDA, which contribute to its weak long-term fundamental strength. Despite high institutional holdings at 20.91% and a notable increase in their stake, the company's ability to service its debt remains weak, further impacting investor confidence.
In the broader market context, the Sensex has decreased by 2.34% over the past week, indicating a slightly better performance compared to Swiggy's decline. The stock's liquidity appears adequate, with a delivery volume that has risen significantly, suggesting increased investor participation. However, the overall market sentiment remains cautious due to the company's financial struggles, including a poor EBIT to interest ratio and flat results reported in June. This combination of factors contributes to the stock's downward movement, as investors weigh the risks associated with its current financial health against the backdrop of a challenging market environment.