Why is Swiggy falling/rising?

As of 01-Sep, Swiggy Ltd's stock price is currently at 428.65, reflecting an increase of 18.9 or 4.61%. The stock has shown a positive trend today, outperforming its sector by 3.34% and reversing a two-day decline. It reached an intraday high of Rs 430, and it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, despite this recent uptick, the stock has experienced a year-to-date decline of 20.71%, indicating underlying challenges. The company is facing significant operational losses, as evidenced by a negative EBIT to Interest ratio of -34.10, and its profits have decreased by 34% over the past year, contributing to its perceived riskiness. Additionally, while institutional holdings have increased, suggesting some confidence from larger investors, the overall weak long-term fundamentals may be weighing on investor sentiment.
In the broader market context, Swiggy's short-term performance has been notably better than the benchmark Sensex, which has declined by 1.56% over the past week while Swiggy has gained 0.76%. This contrast highlights the stock's relative strength in a challenging market environment. However, the overall market sentiment remains cautious, as indicated by the flat results reported in June and the significant drop in delivery volume, which fell by 77.35% against the 5-day average. The combination of these factors suggests that while Swiggy's stock is currently rising, it is doing so amidst significant operational challenges and a broader market that is not favoring growth stocks.