Why is Alok Industries falling/rising?

As of 28-Aug, Alok Industries Ltd is experiencing a decline in its stock price, currently at 17.36, which reflects a decrease of 0.28 or 1.59%. The stock has been underperforming significantly, having lost 7.22% over the last six days and showing a negative return of 11.61% over the past month. It is trading below all its moving averages, indicating a bearish trend. Additionally, the company has reported negative results for the last five consecutive quarters, with net sales and profit after tax both declining by 23.84%. The company's weak long-term fundamentals, characterized by a negative book value and high debt levels, further contribute to the stock's poor performance.
In the broader market context, Alok Industries' short-term performance contrasts sharply with the benchmark, as it has underperformed the Sensex by 5.14% over the past week and 11.61% over the past month. While the Sensex has shown a modest gain of 2.48% year-to-date, Alok Industries has seen a significant decline of 17.49%. The lack of investor confidence is evident, with domestic mutual funds holding only a minimal stake in the company, suggesting discomfort with its current valuation and business prospects. Overall, the combination of negative financial results, poor growth prospects, and declining investor participation has led to the stock's downward trajectory.