Why is Indo Euro Indch. falling/rising?

As of 29-Sep, Indo Euro Indchem Ltd's stock price is currently at Rs 11.06, reflecting a decrease of Rs 1.16, or 9.49%. The stock has been underperforming significantly, having fallen consecutively for the last two days with a total decline of 11.45%. Today's trading has shown high volatility, with the stock touching an intraday low of Rs 11, and it has traded in a wide range of Rs 1.25. The stock's performance over the past week has been particularly poor, with a decline of 14.79%, and it has underperformed the broader market benchmarks over various time frames, including a year-to-date drop of 31.69%. The company's weak long-term fundamentals, characterized by a low return on equity of 3.98% and negative EBITDA, further contribute to the stock's downward pressure.
In the broader market context, Indo Euro Indchem Ltd's performance contrasts sharply with the Sensex, which has shown a modest gain of 2.85% year-to-date. The stock's significant underperformance relative to the benchmark is evident, particularly in the last three years, where it has declined by 57.33% compared to the Sensex's 42.47% increase. This stark difference highlights the company's struggles, including flat sales results and a poor ability to service its debt, which have led to a lack of investor confidence and participation. Overall, the combination of weak financial performance and negative market sentiment has resulted in the stock's continued decline.