Why is Aksh Optifibre falling/rising?

As of 29-Jul, Aksh Optifibre Ltd is experiencing a decline in its stock price, currently at 8.21, which reflects a decrease of 0.03 or 0.36%. The stock has underperformed its sector by 0.79% today and has been on a downward trend for the last two days, with a total decline of 2.96% during this period. Over the past week, the stock has dropped by 4.98%, and it has shown significant underperformance over the past month with a decline of 11.53%. The company has reported negative financial results, including a 34.42% fall in net sales and a staggering 507% drop in profit after tax, alongside a high debt-to-equity ratio of 8.53 times, indicating weak long-term fundamentals. Additionally, the reduction in promoter stake by 0.54% suggests diminishing confidence in the company's future.
In the broader market context, while the Sensex has seen a slight decline of 1.03% over the past week, Aksh Optifibre's performance has been notably worse, indicating a significant divergence from the benchmark. The stock's year-to-date performance is particularly concerning, with a drop of 28.36% compared to the Sensex's gain of 4.09%. This consistent underperformance against the benchmark over the last three years, coupled with negative EBITDA and a high debt burden, paints a challenging picture for investors, further contributing to the stock's recent decline.