Why is Indiabulls Enter falling/rising?

As of 31-Jul, Indiabulls Enterprises Ltd is experiencing a decline in its stock price, currently at 16.99, which represents a decrease of 0.44 or 2.52%. The stock has underperformed its sector by 2.4% today and has been on a consecutive downward trend for the last two days, accumulating a total decline of 3.03%. Over the past week, the stock has fallen by 5.08%, and in the last month, it has seen a significant drop of 22.63%. The company is trading below all its moving averages, indicating a bearish trend. Additionally, there has been a notable decrease in investor participation, with delivery volume plummeting by 62.65% compared to the five-day average. The company's negative book value and high debt-to-EBITDA ratio of 6.38 times further contribute to its weak long-term fundamentals, raising concerns among investors.
In the broader market context, the stock's performance has been notably worse than the benchmark, with the Sensex declining only 1.22% over the past week and 3.00% over the last month. While Indiabulls Enterprises has generated a remarkable return of 41.94% over the past year, this is juxtaposed against a backdrop of negative financial indicators, including a negative EBITDA and the lowest recorded net sales. The company's financial struggles, including reported losses and a negative net worth, suggest that it may need to raise fresh capital or achieve profitability to sustain its operations, which adds to the risk perception among investors.