Why is Eraaya Lifespace falling/rising?

As of 18-Sep, Eraaya Lifespaces Ltd is experiencing a decline in its stock price, currently at Rs 41.91, which reflects a decrease of Rs 1.17 or 2.72%. The stock has underperformed its sector today, falling by 2.86%, and has been on a downward trend for the last two days, accumulating a total decline of 2.81%. Additionally, the stock is trading lower than its moving averages across various time frames, indicating a bearish sentiment. Over the past year, the stock has significantly underperformed, with a staggering return of -76.20%, while the company's financial health has deteriorated, as evidenced by negative results in the last three quarters and a drastic decline in operating profit.
In the broader market context, the stock's short-term performance has been notably poor compared to the benchmark, with a one-week return of -4.14% against the Sensex's gain of +1.80%. Despite a slight positive return of +2.77% over the past month, the stock's year-to-date performance remains concerning, with a decline of -65.61% compared to the Sensex's increase of +6.24%. The high institutional holdings at 24.83% suggest that knowledgeable investors are aware of the company's challenges, including negative operating profits and a significant drop in net sales. This combination of poor financial performance and underwhelming market returns contributes to the stock's current downward trajectory.