Why is Gravity (India) falling/rising?

As of 24-Jun, Gravity (India) Ltd's stock price is currently at 6.24, reflecting a decrease of 0.32, or 4.88%. The stock has underperformed its sector by 5.92% today, and while it is trading higher than its 50-day, 100-day, and 200-day moving averages, it is lower than its 5-day and 20-day moving averages. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 66.29% compared to the 5-day average. Despite a strong performance over the past year, with a return of 37.44%, the company faces challenges such as operating losses, weak long-term growth, and a negative EBITDA, which contribute to its current price decline.
In the broader market context, the stock's short-term performance has been notably poor, with a 1-week return of -6.31%, contrasting sharply with the Sensex, which has gained 0.58% over the same period. This underperformance is compounded by the company's deteriorating fundamentals, including a significant reduction in promoter confidence, as they have decreased their stake by 0.84% in the last quarter. While the stock has historically outperformed the market over the long term, the current negative sentiment and operational challenges are leading to a decline in its price.