Why is Aksh Optifibre falling/rising?

As of 11-Aug, Aksh Optifibre Ltd's stock price is currently at 7.91, reflecting a decline of 0.17, or 2.1%. The stock has been underperforming, with a consecutive fall over the last two days resulting in a total drop of 2.59%. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has decreased by 1.86%, and it has shown a significant decline of 30.98% year-to-date. The company has been facing challenges, including a high debt-to-equity ratio of 6.83 times and a negative return on equity, which has contributed to its weak long-term fundamental strength. Additionally, the company has reported negative results for the last ten consecutive quarters, with net sales falling by 35.76% and a negative EBITDA, indicating ongoing financial difficulties.
In the broader market context, the Sensex has only declined by 0.51% over the past week, suggesting that Aksh Optifibre's performance is significantly lagging behind the benchmark. The stock's year-to-date performance of -30.98% starkly contrasts with the Sensex's positive return of 3.15%. This underperformance is compounded by a reduction in promoter confidence, as they have decreased their stake by 0.54% in the last quarter, signaling potential concerns about the company's future. Overall, the combination of poor financial results, high debt levels, and decreasing promoter confidence has led to the stock's recent decline.