Why is Indiabulls Enter falling/rising?

As of 25-Jun, Indiabulls Enterprises Ltd is currently priced at 24.75, reflecting a decline of 0.25, or 1.0%. The stock has been underperforming recently, having fallen for three consecutive days, resulting in a total decline of 3.02% during this period. Despite this short-term downturn, the stock has shown strong performance over the past year, with a return of 95.04%, significantly outpacing the market benchmark, which returned only 3.43%. However, the company is facing challenges, including a negative book value and a high Debt to EBITDA ratio of 6.38 times, indicating weak long-term fundamental strength. Additionally, the recent drop in promoter confidence, with a 7.56% reduction in their stake, may further contribute to investor concerns.
In the broader market context, while Indiabulls Enterprises has outperformed the Sensex with a 1-week return of 4.43% compared to the benchmark's 1.61%, the stock's recent performance indicates a shift in sentiment. The falling investor participation, with a significant drop in delivery volume by 93.16% against the 5-day average, suggests that traders may be cautious about the stock's future prospects. This cautious sentiment is compounded by the company's reported losses and negative net worth, which could deter potential investors despite its strong historical returns.