Why is Akshar Spintex falling/rising?

As of 29-Jul, Akshar Spintex Ltd's stock price is currently at 0.53, reflecting a decrease of 0.01 or 1.85%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 5.36% during this period. Additionally, the stock has shown a significant downturn over various time frames, with a year-to-date decline of 29.33% and a staggering 69.84% drop over the past year. The company's financial health is concerning, as it has reported operating losses and negative results for the last four consecutive quarters, with a notable decrease in profit before tax and net sales. The weak ability to service debt, indicated by a poor EBIT to interest ratio of -0.84, further exacerbates the stock's negative outlook.
In the broader market context, Akshar Spintex's recent performance contrasts sharply with the Sensex, which has seen a modest gain of 4.09% year-to-date. The stock's short-term return of -3.64% over the past week is significantly worse than the benchmark's decline of only 1.03%. Despite a rise in delivery volume, indicating some investor participation, the overall sentiment remains negative due to the company's weak long-term fundamentals and profitability issues. The stock's trading below all moving averages further highlights its downward trajectory, reinforcing the perception of it being a risky investment.