Why is IMEC Services falling/rising?

As of 25-Aug, IMEC Services Ltd's stock price is currently at Rs 181.65, reflecting a decrease of Rs 3.7 or 2.0%. The stock has been on a downward trend, having fallen for the last six consecutive days, resulting in a total decline of 11.35% during this period. Today's performance shows that the stock opened with a loss of 2% and has not fluctuated beyond this price point. Despite positive results in the last three quarters, including significant growth in net sales and profit after tax, the company faces challenges such as operating losses and a weak long-term fundamental strength, which contribute to its recent price decline. Additionally, a high percentage of pledged promoter shares adds to the downward pressure on the stock.
In the broader market context, IMEC Services has underperformed compared to the Sensex, which has gained 0.45% over the past week while IMEC has dropped 9.56%. The stock's year-to-date performance remains strong at 194.46%, but the recent short-term losses indicate a divergence from the overall market trend. The falling investor participation, evidenced by a significant drop in delivery volume, further suggests a lack of confidence among investors, which is compounded by the company's poor ability to service its debt and negative EBITDA. These factors collectively contribute to the stock's current downward trajectory.