Why is Diligent Media falling/rising?

As of 29-Jul, Diligent Media Corporation Ltd is currently priced at 4.75, reflecting an increase of 0.03 or 0.64%. The stock has shown a trend reversal, gaining after three consecutive days of decline. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The stock has underperformed in the short term, with a 1-week return of -3.85% compared to the Sensex's -1.03%. Despite a significant growth in net sales and profits, the company is facing challenges such as a negative book value and high debt levels, which contribute to its weak long-term fundamental strength.
In the broader market context, Diligent Media's performance has been notably weaker than the benchmark, with a year-to-date return of -25.55% compared to the Sensex's positive return of 4.09%. This underperformance is further highlighted by the stock's return of -14.57% over the past year, significantly worse than the BSE500's decline of -2.26%. The falling investor participation, as indicated by a 22.72% drop in delivery volume, suggests a lack of confidence among investors, which may be contributing to the stock's recent price movements.