Why is Inditrade Cap. falling/rising?

As of 11-Jul, Inditrade Capital Ltd's stock price is currently at 6.43, reflecting a decrease of 0.11, or 1.68%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 2.28% during this period. Over the past week, the stock has decreased by 5.30%, and it has significantly underperformed the benchmark Sensex, which has only declined by 1.12%. The company has reported negative financial results, including a substantial drop in net sales by 68.76% and a negative profit after tax of Rs -6.85 crore, contributing to a weak long-term outlook. Additionally, the promoters have reduced their stake in the company by 24.68%, indicating a lack of confidence in its future performance.
In the broader market context, the stock's performance has been notably poor compared to the Sensex, which has gained 5.58% year-to-date, while Inditrade Capital Ltd has seen a staggering decline of 40.19% in the same period. This consistent underperformance against the benchmark over the last three years, coupled with the company's negative financial results and declining promoter confidence, suggests that investor sentiment remains weak. The stock's trading below all key moving averages further reinforces the bearish outlook, as it indicates a lack of upward momentum in the face of rising investor participation.