Why is Ashiana Housing falling/rising?

As of 28-Jul, Ashiana Housing Ltd. is currently priced at Rs 314.60, reflecting a decrease of Rs 1.2 or 0.38%. The stock has been on a downward trend, having fallen for the last three consecutive days, resulting in a total decline of 4.77% during this period. Over the past week, the stock has underperformed with a return of -2.98%, while its performance over the last month shows a significant drop of -10.11%. The company has reported negative results for the last three consecutive quarters, with net sales falling by 24.77% and profits declining by 73.8%. Additionally, the stock is trading at a premium compared to its peers, which contributes to its poor long-term growth outlook, as evidenced by a low return on equity of 2.9 and a high price-to-book value of 4.1.
In the broader market context, the stock has underperformed the benchmark, with the Sensex showing a decline of only 1.59% over the past week, while Ashiana Housing's decline was more pronounced. The construction and real estate sector, in which the company operates, has also faced challenges, dropping by 3.36%. Despite a slight increase in investor participation, as indicated by a rise in delivery volume, the overall sentiment remains negative due to the company's poor financial performance and valuation concerns. This combination of factors has led to a continued decline in the stock price, reflecting broader market trends and company-specific challenges.