Why is Eraaya Lifespace falling/rising?

As of 13-Aug, Eraaya Lifespaces Ltd is experiencing a decline in its stock price, currently at Rs 40.80, reflecting a decrease of Rs 0.83 or 1.99%. The stock has been underperforming significantly, having fallen consecutively for the last eight days, resulting in a total decline of 14.01% during this period. Additionally, the stock is trading below all its moving averages and is close to its 52-week low, just 1.05% away from Rs 40.37. The company has reported very negative financial results, including an 87.83% drop in net sales and a negative EBITDA, which contributes to its weak long-term fundamental strength. Despite having high institutional holdings at 24.83%, the company's operating losses and low return on equity indicate a lack of profitability, further pressuring the stock's price.
In the broader market context, the stock has underperformed the benchmark, with a one-year return of -49.78% compared to the Sensex's positive return of 2.01%. Over the past week, Eraaya Lifespaces has seen a significant decline of 8.66%, while the Sensex remained relatively flat with a change of -0.01%. This stark contrast highlights the stock's struggles in a market that has not experienced significant downturns. The company's liquidity appears adequate for trading, but the overall negative sentiment surrounding its financial health and performance continues to drive the stock lower.