Why is Indiabulls Enter falling/rising?

As of 24-Jun, Indiabulls Enterprises Ltd is experiencing a decline in its stock price, currently at 25.00, which reflects a decrease of -0.2 or -0.79%. The stock has underperformed its sector by -1.89% today and has been on a consecutive fall for the last two days, resulting in a total decline of -2.04% during this period. Despite a strong performance over the past year with a return of 99.84%, the company is facing significant challenges, including a negative book value and a high Debt to EBITDA ratio of 6.38 times. Additionally, the company's recent quarterly profit after tax has fallen dramatically by -1190.1%, indicating severe financial distress and raising concerns among investors.
In the broader market context, while Indiabulls Enterprises has outperformed the benchmark Sensex in the short term, with a 1-week return of +8.27% compared to the Sensex's +0.58%, the overall sentiment is tempered by the company's weak long-term fundamentals and decreasing promoter confidence, as they have reduced their stake by -7.56%. The stock's liquidity remains adequate, but the significant drop in delivery volume by -85.52% against the 5-day average suggests waning investor interest. This combination of strong past performance overshadowed by current financial instability and declining investor participation is contributing to the stock's recent downward movement.