Why is Eraaya Lifespace falling/rising?

As of 22-Sep, Eraaya Lifespaces Ltd is experiencing a decline in its stock price, currently at Rs 40.20, which reflects a decrease of Rs 1.93 or 4.58%. The stock has underperformed significantly, with a 1-week return of -5.41% and a 1-month return of -8.88%. Today's performance indicates that the stock is close to its 52-week low, just 0.52% away from Rs 39.99, and it has touched an intraday low of Rs 40.03. The stock is trading below all its moving averages, and there has been a notable decrease in investor participation, with delivery volume falling by 34.78% against the 5-day average. Additionally, the company has reported negative results for the last three consecutive quarters, with net sales and profits both declining sharply, contributing to a poor long-term growth outlook.
In the broader market context, the stock's performance has been markedly worse than the benchmark, with a year-to-date return of -67.01% compared to the Sensex's positive return of 5.15%. Over the past year, while the market has seen a decline of only -2.82%, Eraaya Lifespaces has suffered a staggering drop of -79.30%. This stark contrast highlights the stock's significant underperformance relative to the market, further exacerbated by its negative operating profits and high institutional holdings, which may indicate a lack of confidence among retail investors. Overall, the combination of poor financial results, declining investor interest, and substantial underperformance against the benchmark are key factors driving the stock's current downward trajectory.