Why is Alps Industries falling/rising?

As of 22-Sep, Alps Industries Ltd is currently priced at 1.82, reflecting an increase of 0.02 or 1.11%. Despite this slight uptick today, the stock has shown a negative performance over the past week, down 3.19%, and has significantly underperformed the benchmark, the Sensex, which has gained 0.46% in the same period. The stock is trading below its moving averages across all time frames, indicating a bearish trend. However, there has been a notable increase in investor participation, with delivery volume rising by 70.09% against the 5-day average, suggesting some interest despite the overall negative sentiment. The company has faced severe challenges, including a negative book value, high debt levels, and poor long-term growth metrics, which have contributed to its substantial decline of 49.16% over the past year.
In the broader market context, while the Sensex has shown a positive return of 5.15% year-to-date, Alps Industries has drastically underperformed with a year-to-date decline of 42.22%. This consistent underperformance against the benchmark over the last three years, coupled with a high percentage of pledged promoter shares, adds to the stock's volatility and risk perception among investors. The company's financial struggles, including negative EBITDA and a lack of growth in net sales, further exacerbate its challenges in attracting long-term investment, making it a risky proposition in the current market environment.