Why is Gujarat Hy-Spin falling/rising?

As of 19-Sep, Gujarat Hy-Spin Ltd's stock price is currently at Rs 17.75, reflecting a decline of 4.0 points or 18.39%. The stock has been underperforming significantly, having fallen consecutively for the last three days, resulting in a total decline of 27.85% during this period. Although the stock opened with a gain of 4.37% today and reached an intraday high of Rs 22.7, it ultimately dropped to its current price, indicating high volatility with an intraday fluctuation of 12.21%. Additionally, the stock is trading below all its moving averages, which suggests a bearish trend. Despite a rise in delivery volume by 42.86% against the 5-day average, the overall sentiment remains negative, contributing to the stock's recent decline.
In the broader market context, Gujarat Hy-Spin's performance over the past week shows a staggering drop of 29.00%, while the benchmark Sensex has gained 0.88% during the same period. This stark contrast highlights the stock's significant underperformance relative to the market. Over the past month, the stock has also declined by 28.91%, while the Sensex has increased by 1.20%. Year-to-date, Gujarat Hy-Spin has decreased by 14.46%, contrasting with the Sensex's positive return of 5.74%. This ongoing trend of underperformance against the benchmark indicates that investor confidence in Gujarat Hy-Spin is waning, further exacerbating its price decline.