Why is Swiggy falling/rising?

As of 20-Oct, Swiggy Ltd's stock price is currently at 424.00, reflecting a decrease of 8.0 points or 1.85%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 5.64% during this period. Additionally, the stock has shown a significant downturn over the past month, with a decrease of 8.07%, and a year-to-date decline of 21.57%. The company's financial health is concerning, as it has reported operating losses and a negative EBITDA, which has contributed to its weak long-term fundamental strength. Despite high institutional holdings at 20.91%, which have increased by 7.74% over the previous quarter, the stock's ability to service its debt remains weak, further impacting investor sentiment.
In the broader market context, the Sensex has shown a positive return of 2.47% over the past week, contrasting sharply with Swiggy's decline of 2.50% during the same period. This underperformance is indicative of the stock's struggles relative to the overall market. While there has been rising investor participation, as evidenced by an increase in delivery volume, the stock's liquidity remains adequate for trading. However, the negative sentiment surrounding the company's financial results, including a lowest profit before tax of Rs -1,284.00 cr and a profit after tax of Rs -1,197.00 cr, suggests that investors are cautious, leading to the stock's downward trajectory.