Why is Aksh Optifibre falling/rising?

As of 25-Aug, Aksh Optifibre Ltd's stock price is currently at 7.68, reflecting a decline of 0.12 or 1.54%. The stock has underperformed its sector today by 1.52% and 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 6.34%, and it has shown a significant year-to-date decline of 32.98%. The company's financial health is concerning, as it has reported negative results for the last ten consecutive quarters, with a high debt-equity ratio of 6.83 times and a negative EBITDA. Additionally, the promoters have reduced their stake in the company, indicating a lack of confidence in its future prospects.
In the broader market context, while the Sensex has gained 0.45% over the past week, Aksh Optifibre's performance has been notably poor, highlighting its struggles compared to the benchmark. The stock's long-term performance is also troubling, with a return of -18.90% over the last three years, contrasting sharply with the Sensex's gain of 38.90% during the same period. This underperformance, coupled with weak fundamentals and declining promoter confidence, contributes to the stock's downward trajectory in the market.