Why is Indian CardCloth falling/rising?

As of 02-Sep, Indian Card Clothing Company Ltd's stock price is currently at 254.00, reflecting a decrease of 7.0, or 2.68%. The stock has underperformed its sector by 2.32% today and has experienced a consecutive decline over the last two days, resulting in a total drop of 4.73%. The stock's performance over the past week shows a decline of 5.52%, and it has also underperformed the benchmark Sensex, which has only decreased by 0.78%. Additionally, the company has reported operating losses and a weak long-term fundamental strength, indicated by a poor EBIT to Interest ratio of -3.69 and negative return on capital employed (ROCE). The latest quarterly results show a significant drop in profit after tax by 55%, alongside the lowest net sales and inventory turnover ratio.
In the broader market context, the stock's year-to-date performance is notably poor, with a decline of 23.26% compared to the Sensex's increase of 2.58%. This consistent underperformance against the benchmark over the last three years highlights the stock's struggles. Despite a rise in investor participation, as evidenced by a 17.8% increase in delivery volume, the overall sentiment remains negative due to the company's financial difficulties and the risk associated with its current trading position. The stock's trading below all major moving averages further indicates a bearish trend, suggesting that investors are cautious about its future performance.