Why is Avantel falling/rising?

As of 20-Oct, Avantel Ltd's stock price is currently at 174.50, reflecting a decline of 16.0 points or 8.4%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total drop of 11.96% during this period. Today, it opened with a significant loss of 7.95% and reached an intraday low of Rs 160.65, indicating high volatility with an intraday fluctuation of 6.25%. Over the past week, the stock has decreased by 8.42%, while its performance over the last month shows a decline of 5.06%. Despite a strong historical performance with a 20.24% increase year-to-date and a remarkable 838.85% rise over three years, recent financial results have been concerning, with a net profit drop of 67.34% and negative results reported for the last three consecutive quarters.
In the broader market context, the Sensex has shown a positive return of 2.47% over the past week, contrasting sharply with Avantel's decline. This underperformance relative to the benchmark indicates a lack of investor confidence, further exacerbated by the company's weak financial indicators, such as a low return on equity and a high price-to-book ratio. Additionally, the company's minimal domestic mutual fund holdings suggest a lack of institutional support, which may reflect broader market skepticism regarding its valuation and future prospects. The IT - Hardware sector, in which Avantel operates, has also faced a downturn, falling by 3.65%, contributing to the negative sentiment surrounding the stock.