Why is Akshar Spintex falling/rising?

As of 05-Jun, Akshar Spintex Ltd is experiencing a decline in its stock price, currently at 0.59, which reflects a decrease of 0.01 or 1.67%. The stock has underperformed its sector by 2.74% today and has been on a downward trend for the last two days, accumulating a total loss of 3.28%. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish technical outlook. Additionally, the company has reported negative results for the last four consecutive quarters, with significant declines in profit before tax, profit after tax, and net sales compared to previous averages. The company's weak ability to service its debt, as evidenced by a poor EBIT to interest ratio and negative EBITDA, further contributes to its declining stock performance.
In the broader market context, Akshar Spintex's short-term performance has been relatively stable, with a 1-week return of 0.00% compared to a slight decline of 0.23% in the Sensex. However, over the year-to-date, the stock has significantly underperformed, with a decline of 21.33% against a 4.23% increase in the benchmark index. This stark contrast highlights the challenges faced by Akshar Spintex, particularly in light of its operating losses and weak long-term fundamental strength, which have led to a bearish sentiment among investors. The falling investor participation, as indicated by a 40.26% drop in delivery volume, further underscores the lack of confidence in the stock's recovery.