Why is Aksh Optifibre falling/rising?

As of 12-Sep, Aksh Optifibre Ltd's stock price is currently at 7.71, reflecting a decrease of 0.1, or 1.28%. The stock has underperformed its sector today by 1.68%, and it is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 42.46% compared to the 5-day average. The company has faced consistent negative results over the last ten quarters, with a high debt-to-equity ratio of 6.83 times and a negative EBITDA, indicating weak long-term fundamentals and low profitability. Promoter confidence is also waning, as they have reduced their stake in the company by 0.54% in the last quarter.
In the broader market context, Aksh Optifibre has seen a decline of 2.53% over the past week, while the benchmark Sensex has gained 1.48%. This trend of underperformance is consistent over longer periods, with the stock down 32.72% year-to-date compared to a 4.82% increase in the Sensex. The stock's performance has been particularly poor over the last three years, with a return of -42.59% compared to a 36.25% gain in the benchmark. This consistent underperformance against the market highlights the challenges faced by Aksh Optifibre, contributing to the negative sentiment surrounding its stock price.