Why is Ecoboard Inds. falling/rising?

As of 14-Aug, Ecoboard Industries Ltd is experiencing a decline in its stock price, currently at Rs 26.50, reflecting a decrease of Rs 1.33 or 4.78%. The stock has been underperforming, having fallen for three consecutive days, resulting in a total decline of 10.11% during this period. Today's trading saw the stock reach an intraday high of Rs 28.8 but ultimately closed lower, indicating weak investor sentiment. Additionally, Ecoboard is trading below its moving averages across various timeframes, which suggests a bearish trend. The company has a negative book value and has reported significant losses, with net sales and profit after tax both declining by 73.33%. These factors contribute to a perception of weak long-term fundamental strength, further pressuring the stock price.
In the broader market context, Ecoboard's performance has been notably poor compared to the Sensex, which has only declined by 0.03% over the past week while Ecoboard's stock has dropped by 10.02%. The company's year-to-date performance shows a decline of 18.51%, contrasting sharply with the Sensex's gain of 3.15%. This stark difference highlights the challenges faced by Ecoboard Industries, including high debt levels and negative EBITDA, which make it a risky investment. The stock's underperformance relative to the benchmark over various timeframes underscores the ongoing struggles of the company in a challenging market environment.