Why is E2E Networks falling/rising?

As of 24-Jul, E2E Networks Ltd is experiencing a decline in its stock price, currently at 2,252.20, reflecting a decrease of 118.5 points or 5.0%. The stock has underperformed its sector by 4% today and is trading below all its moving averages, indicating a bearish trend. Additionally, the delivery volume has significantly decreased by 63.74% compared to the 5-day average, suggesting reduced investor interest. Over the past week, the stock has fallen by 9.27%, and its year-to-date performance shows a substantial decline of 44.36%, despite a positive return of 22.93% over the last year. The company's recent financial results have been disappointing, with a negative PAT and declining net sales, contributing to a perception of poor long-term growth.
In the broader market context, while the Sensex has shown minimal movement with a decline of only 0.20% over the past week, E2E Networks' significant drop indicates a divergence from the overall market trend. The stock's poor performance is compounded by the high percentage of pledged promoter shares, which can exert additional downward pressure in a falling market. Despite the company's strong ability to service debt and consistent returns over the last three years, the negative financial results and a low return on equity have led to a perception of an expensive valuation, further impacting investor sentiment and contributing to the stock's decline.