Why is Diamond Power falling/rising?

As of 18-Sep, Diamond Power Infrastructure Ltd is currently priced at 151.40, reflecting a decline of 1.7, or 1.11%. The stock has been underperforming recently, having fallen for three consecutive days, resulting in a total drop of 4.42%. Today's trading saw the stock reach an intraday low of Rs 149.6, indicating a negative sentiment among investors. Despite positive financial results over the last seven quarters, including a significant growth in net sales and a strong inventory turnover ratio, the company faces challenges such as a negative book value and a high debt-to-equity ratio, which contribute to its perceived long-term weakness.
In the broader market context, the stock has shown a 2.64% increase over the past week, outperforming the Sensex, which rose by 1.80%. However, year-to-date, Diamond Power has underperformed with a decline of 0.75%, while the Sensex has gained 6.24%. The recent decrease in promoter confidence, evidenced by a 5.98% reduction in their stake, further exacerbates concerns about the company's future prospects. This combination of short-term price declines, long-term fundamental weaknesses, and reduced investor participation suggests a cautious outlook for Diamond Power in the current market environment.