Why is Indiabulls Enter falling/rising?

As of 23-Jul, Indiabulls Enterprises Ltd is experiencing a decline in its stock price, currently at 17.40, which reflects a decrease of 0.4 or 2.25%. The stock has been underperforming, having fallen consecutively for the last five days, resulting in an overall return of -8.23% over that period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a strong performance over the past year with a return of 63.38%, the company is facing significant challenges, including a negative book value, a high debt-to-EBITDA ratio, and reported losses, which indicate weak long-term fundamental strength. The recent drop in promoter confidence, with a reduction in their stake by 7.56%, further exacerbates concerns about the company's future prospects.
In the broader market context, the stock's short-term performance has significantly lagged behind the benchmark, with the Sensex showing a slight gain of 0.11% over the same week. While the stock has outperformed the market over the past year, the recent downturn highlights a stark contrast to the overall market trend. The company's liquidity appears sufficient for trading, but the negative EBITDA and declining promoter confidence suggest that investors are wary, leading to the stock's current downward trajectory.