Why is Avantel falling/rising?

As of 25-Jul, Avantel Ltd's stock price is currently at Rs 135.90, reflecting a decline of Rs 12.1 or 8.18%. Today's price summary indicates that the stock has underperformed its sector by 4.79%, with an intraday low of Rs 135.25, showcasing significant volatility of 5.96%. Over the past week, the stock has decreased by 10.03%, and it has also shown a substantial decline of 27.48% over the past year, in stark contrast to the Sensex, which has only fallen by 1.78%. The company's recent financial results have been disappointing, with a 77.1% drop in PAT and a 16.7% decrease in net sales compared to previous quarters, contributing to a perception of an expensive valuation despite its healthy long-term growth metrics.
Broader market context reveals that while the stock has underperformed significantly over the past year, the overall market (BSE500) has generated slightly negative returns of -0.19%. This stark underperformance may reflect a lack of confidence from domestic mutual funds, which hold no stake in the company, suggesting concerns about its valuation or business prospects. Additionally, the IT-Hardware sector has seen a decline of 3.4%, further impacting Avantel's performance. The combination of weak financial results, high volatility, and falling investor participation indicates a challenging environment for the stock, leading to its current downward trend.