Why is Ideaforge Tech falling/rising?

As of 06-Nov, Ideaforge Technology Ltd is experiencing a decline in its stock price, currently at Rs 455.10, which reflects a decrease of Rs 20.5 or 4.31%. The stock has underperformed its sector today by 2.83% and has been on a downward trend for the last two days, with a total drop of 5.79% during this period. Additionally, the stock has shown negative returns over various time frames, including a 1-week decline of 6.58% and a year-to-date decrease of 25.27%. The company's recent performance is further highlighted by a significant drop in delivery volume, which has fallen by 55.59% against the 5-day average, indicating reduced investor participation. While there has been a positive development with promoters increasing their stake by 4.26%, the overall sentiment remains negative due to ongoing operating losses and poor long-term growth metrics.
In the broader market context, Ideaforge Technology Ltd's performance has been notably weaker compared to the benchmark, with the Sensex showing a modest gain of 1.86% over the past month while Ideaforge has declined by 8.04%. This stark contrast in performance underscores the challenges faced by the company, particularly as it has reported negative results for five consecutive quarters, with net sales and profits both experiencing significant declines. The stock's risk profile is further exacerbated by its negative EBITDA and weak ability to service debt, which contributes to a lack of investor confidence despite the recent increase in promoter stake. Overall, the combination of poor financial performance and declining market interest has led to the stock's current downward trajectory.