Why is Avantel falling/rising?

As of 08-Sep, Avantel Ltd's stock price is currently at 170.45, reflecting a decrease of 6.4 points or 3.62%. Today's price summary indicates that the stock has underperformed its sector by 4.82%, with an intraday high of Rs 183 and a low of Rs 167.3. Despite this decline, the stock has shown strong performance over the past week and month, with returns of 12.69% and 35.93%, respectively. However, the recent negative quarterly results, including a significant drop in PAT and net sales, have raised concerns about its profitability, which may be contributing to the current price decline. Additionally, the stock's high valuation relative to its peers and the lack of domestic mutual fund investment could signal caution among investors.
In the broader market context, while Avantel has outperformed the Sensex over various periods, including a year-to-date return of 17.45% compared to the Sensex's 3.39%, the recent performance indicates a shift in sentiment. The stock's ability to service debt remains strong, and it has shown consistent returns over the last three years, but the recent negative financial results may overshadow these positives. The stark contrast between the stock's historical performance and its current challenges suggests that investors are reassessing their positions, leading to the observed decline in price.