Why is IndiaNivesh falling/rising?

As of 04-Aug, IndiaNivesh Ltd's stock price is currently at 9.07, reflecting an increase of 0.09 or 1.0%. Despite this recent uptick, the stock has underperformed its sector by 0.62% today and has shown a negative trend over the past week and month, with returns of -0.66% and -5.52%, respectively. The stock has been gaining for the last two days, rising 1.91%, but it remains below all key moving averages, indicating a weak position. Additionally, the company has a negative book value and has reported significant losses, with a PAT of -10.66 crore, contributing to its classification as a strong sell. The increasing proportion of pledged promoter shares, now at 28.94%, adds further risk, especially in a declining market.
In the broader market context, while the Sensex has shown a slight gain of 0.16% over the past week, IndiaNivesh's performance has lagged behind, highlighting its consistent underperformance against the benchmark over the last three years. The stock's year-to-date return of -37.45% starkly contrasts with the Sensex's positive return of 3.69%, indicating a significant divergence in performance. This underperformance, combined with falling investor participation and liquidity concerns, suggests that the stock's recent price movement may not be sustainable without a turnaround in its fundamental strengths.