Why is Eraaya Lifespace falling/rising?

As of 01-Oct, Eraaya Lifespaces Ltd is experiencing a decline in its stock price, currently at Rs. 35.82, reflecting a decrease of Rs. 0.56 or 1.54%. The stock has hit a new 52-week low today and has been on a downward trend, losing 10.67% over the past week and 25.03% over the past month. Additionally, the company has reported negative results for the last three consecutive quarters, with net sales and profit after tax both declining significantly. Despite having sufficient cash to cover debt obligations and high institutional holdings, the company's poor long-term growth, indicated by an annual operating profit decline of 9,239% over the last five years, has negatively impacted investor sentiment.
In the broader market context, while the Sensex has shown a slight decline of 0.90% over the past week, Eraaya Lifespaces has underperformed significantly, with a 10.67% drop in the same period. The stock's performance has been notably poor over the last year, with a staggering decline of 86.87%, compared to the market's negative return of only 5.88%. This stark contrast highlights the stock's ongoing struggles and reinforces the perception of it being a risky investment, particularly given its negative operating profits and substantial fall in profits over the past year.