Why is Ajcon Global falling/rising?

As of 04-Jul, Ajcon Global Services Ltd's stock price is currently at 9.35, reflecting a decrease of 0.33 or 3.41%. The stock has been underperforming recently, having lost 10.53% over the last four days and is currently underperforming its sector by 3.54%. Despite a strong long-term performance, with a 164.95% return over the past year, the company is facing challenges such as operating losses and a decline in net sales, which has grown at an annual rate of -7.29%. The recent quarterly results showed a significant drop in profit after tax and operating profit, contributing to concerns about the company's long-term fundamental strength.
In the broader market context, the stock's short-term performance has been notably worse than the benchmark, with a 6.12% decline over the past week compared to a 0.74% decline in the Sensex. While Ajcon has outperformed the benchmark in the longer term, the recent negative trends in investor participation and liquidity, along with a high price-to-book value ratio, indicate that investors may be cautious. The combination of weak quarterly results and declining investor confidence is likely contributing to the stock's recent downward movement.