Why is IKIO Tech falling/rising?

As of 24-Jul, IKIO Technologies Ltd is experiencing a decline in its stock price, currently at 207.55, reflecting a decrease of 1.95 or 0.93%. The stock has underperformed its sector today by 2.21% and has been on a consecutive downward trend for the last two days, resulting in a total decline of 1.66% during this period. Over the past week, the stock has fallen by 2.38%, and it has significantly underperformed the benchmark Sensex, which has shown a slight decline of only 0.09%. The company has reported negative financial results in recent quarters, including a 7.6% drop in net sales and a substantial decrease in operating profit, which has contributed to its poor long-term growth outlook. Additionally, the stock's low return on equity and high price-to-book value indicate an expensive valuation relative to its peers, further impacting investor sentiment negatively.
In the broader market context, while the Sensex has gained 5.18% year-to-date, IKIO Technologies has seen a significant decline of 15.41% in the same period, highlighting its underperformance. The stock's recent performance is also reflected in its one-year return of -31.58%, contrasting sharply with the benchmark's gain of 2.54%. This stark difference underscores the challenges faced by IKIO Technologies, including declining profitability and negative results over the last two quarters, which have led to a lack of investor confidence and a sell-off in the stock. Despite a slight increase in delivery volume, the overall market sentiment remains bearish, contributing to the stock's continued decline.