Why is Eraaya Lifespace falling/rising?

As of 30-Jun, Eraaya Lifespaces Ltd is experiencing a decline in its stock price, currently at 44.00, reflecting a decrease of 0.49 or 1.1%. The stock has underperformed significantly, with a performance today that is down by 1.49% compared to its sector. It is trading lower than all its moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Additionally, the stock has shown a substantial decline in returns over various periods, with a year-to-date drop of 63.89% and a one-year decline of 44.22%. The company's financial health is concerning, marked by an operating loss, a high debt-to-EBITDA ratio, and a negative return on equity, which collectively indicate weak long-term fundamental strength. The recent negative results, including a drastic fall in net sales and consecutive quarters of losses, further exacerbate the stock's downward trajectory.
In the broader market context, the stock's performance contrasts sharply with the benchmark, as the Sensex has gained 7.00% year-to-date, while Eraaya Lifespaces has plummeted. Over the past week and month, the stock has also underperformed the benchmark, with returns of -3.76% and -1.23%, respectively, compared to positive returns for the Sensex. The decline in investor participation, evidenced by a 64.25% drop in delivery volume, coupled with the company's high institutional holdings, suggests that while institutional investors may have the resources to analyze the company's fundamentals, the prevailing sentiment remains negative. Overall, the combination of poor financial performance and market conditions has led to a significant decline in the stock price.