Why is Geojit Fin. Ser. falling/rising?

As of 23-Oct, Geojit Financial Services Ltd is experiencing a decline in its stock price, currently at 74.45, reflecting a decrease of 2.82, or 3.65%. The stock has been underperforming, having fallen consecutively for the last four days, with a total return of -6.16% over the past week. It opened the day with a loss of 2.54% and reached an intraday low of Rs 73.75, which is a drop of 4.56%. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, while the company has strong long-term fundamentals with an average Return on Equity (ROE) of 17.60%, it has reported negative results for the last three consecutive quarters, with a significant profit decline of 37.7% over the past year, contributing to the stock's downward movement.
In the broader market context, Geojit Financial Services Ltd has significantly underperformed compared to the benchmark, with a year-to-date return of -35.03% versus the Sensex's gain of 8.21%. The stock's performance over the last year shows a staggering decline of 43.53%, while the broader market has generated positive returns of 5.59%. This stark contrast highlights the challenges faced by the company, particularly with a recent fall in net sales of 5.67% and a decrease in promoter confidence, as they have reduced their stake by 2.92%. These factors collectively suggest a lack of investor confidence and a challenging operational environment, further exacerbating the stock's decline.