Why is Avantel falling/rising?

As of 28-Jul, Avantel Ltd's stock price is currently at 130.10, reflecting a decline of 5.8 points or 4.27%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total drop of 12.09% during this period. It opened the day with a loss of 2.47% and reached an intraday low of Rs 128.5, which is a decrease of 5.45%. Over the past week, the stock has decreased by 10.21%, and in the last month, it has seen a significant decline of 16.76%. The company reported negative results for the quarter ending June 25, with a 77.1% drop in PAT and a 16.7% decrease in net sales compared to the previous four-quarter average, contributing to the stock's downward trend. Despite a strong ability to service debt and healthy long-term growth in net sales, the stock's valuation appears expensive, and the lack of domestic mutual fund investment may indicate a lack of confidence in the stock's current price.
In the broader market context, Avantel's recent performance has significantly lagged behind the benchmark, with the stock's one-year return at -31.31% compared to the BSE500's decline of only 2.52%. This stark contrast highlights the stock's underperformance not just in the short term but also over the past year. The IT - Hardware sector, in which Avantel operates, has also faced challenges, falling by 3.12%. While there has been a rise in investor participation, as indicated by increased delivery volume, the overall sentiment remains negative, further exacerbating the stock's decline.