Why is Swiggy falling/rising?

As of 16-Oct, Swiggy Ltd's stock price is currently at 449.35, reflecting an increase of 6.8, or 1.54%. The stock has been gaining momentum, having outperformed its sector by 1.19% today and showing a consecutive gain over the last three days with a total return of 3.33%. Additionally, Swiggy is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating positive short-term momentum. However, despite these gains, the company faces significant challenges, including operating losses and a weak long-term fundamental strength, as evidenced by a negative EBIT to interest ratio of -34.10. Furthermore, while institutional holdings have increased, indicating confidence from larger investors, the company has reported poor financial results, including a lowest profit before tax of Rs -1,284.00 crore and a negative EBITDA, which raises concerns about its profitability.
In the broader market context, Swiggy's short-term performance over the past week shows a return of +2.90%, which is better than the Sensex's +1.58% return in the same period. However, the year-to-date performance of Swiggy is concerning, with a decline of -16.88%, contrasting sharply with the Sensex's gain of +6.82%. This divergence highlights the stock's underperformance relative to the broader market despite recent gains. The increased investor participation, with a significant rise in delivery volume, suggests a growing interest in the stock, but the underlying financial weaknesses may temper long-term investor confidence.