Why is BITS falling/rising?

As of 05-Sep, BITS Ltd's stock price is currently at Rs. 9.17, reflecting a decrease of 0.05, or 0.54%. The stock has recently hit a new 52-week low of Rs. 8.51, indicating significant downward pressure. In terms of performance, BITS has underperformed the benchmark Sensex over various periods, with a year-to-date decline of 70.17% compared to the Sensex's 3.29% gain. The stock is also trading below its moving averages across multiple time frames, which suggests a bearish trend. Despite a slight increase in investor participation with a 12.11% rise in delivery volume, the overall sentiment remains negative due to weak long-term fundamentals, including a low return on equity of 3.81% and poor growth in net sales and operating profit over the past five years.
Broader market context shows that while the Sensex has gained 1.13% over the past week, BITS has only managed a slight increase of 0.11%, further highlighting its underperformance. The stock's valuation appears expensive relative to its peers, with a price-to-book value of 5.1, and it has generated a return of -11.49% over the past year, accompanied by an alarming profit decline of 88%. This combination of poor financial health, high debt servicing challenges, and a lack of growth has contributed to a negative outlook for BITS, making it a strong sell in the current market environment.