Why is Indiabulls Enter falling/rising?

As of 03-Jul, Indiabulls Enterprises Ltd is experiencing a decline in its stock price, currently at 20.68, which reflects a decrease of 0.84 or 3.9%. The stock has underperformed its sector by 3.67% today and has been on a downward trend for the last three days, accumulating a total loss of 8.09% during this period. Although the stock has shown a strong performance over the past year with a return of 72.19%, it is currently facing significant challenges, including a negative book value and a high Debt to EBITDA ratio of 6.38 times. The company's recent financial performance has been troubling, with a reported loss of Rs -119.33 crore, indicating a drastic decline compared to previous quarters. Additionally, the reduction in promoter stake by 7.56% suggests a lack of confidence in the company's future prospects.
In the broader market context, the stock's short-term performance has been notably poor, with a 9.65% decline over the past week, contrasting sharply with the Sensex, which has only decreased by 0.62% during the same timeframe. While the stock has outperformed the benchmark over the longer term, its recent struggles highlight a divergence from the overall market trend. The falling investor participation, as evidenced by a 62.3% drop in delivery volume, further exacerbates the stock's challenges, indicating a lack of interest among investors. Overall, the combination of negative financial indicators and declining investor confidence is contributing to the stock's current downward trajectory.