Why is Ashima falling/rising?

As of 18-Jul, Ashima Ltd's stock price is currently at 28.12, reflecting a decrease of 0.37, or 1.3%. The stock has underperformed its sector today by 0.46%, and while it is trading above its 100-day moving average, it remains below its 5-day, 20-day, 50-day, and 200-day moving averages. Over the past week, the stock has declined by 0.99%, but it has shown a slight recovery of 1.15% over the past month. However, the company has reported significant operational challenges, including a staggering 90.64% decline in net sales over the last nine months and a negative profit after tax, which has fallen by 103.2%. These factors contribute to a weak long-term fundamental strength, as indicated by a poor EBIT to interest ratio of 0.11 and a low return on equity of 4.19%. Additionally, the stock's valuation appears expensive with a price to book value of 1.8, especially given its substantial loss of 33.99% over the past year.
In the broader market context, while the BSE500 index has experienced a slight decline of 0.36% over the last year, Ashima Ltd has significantly underperformed with a loss of 33.99%. This stark contrast highlights the company's struggles relative to the overall market. Furthermore, the low participation from domestic mutual funds, holding only 0.01% of the company, suggests a lack of confidence in the stock's future performance. The liquidity of the stock remains adequate, with a delivery volume increase of 50.31% compared to the 5-day average, but this does not offset the negative sentiment driven by the company's financial difficulties and operational losses.