Why is Indoco Remedies falling/rising?

As of 01-Aug, Indoco Remedies Ltd's stock price is currently at Rs 309.40, reflecting a decrease of Rs 7.6 or 2.4%. The stock has been on a downward trend, having fallen for the last two days with a total decline of 4.52%. Today's performance indicates that the stock outperformed its sector by 0.76%, but it still touched an intraday low of Rs 307. The stock's returns over the past week and month show a decline of 4.51% and 1.07%, respectively, while it has underperformed the benchmark Sensex over the last three years, generating a return of -22.24% compared to the benchmark's 38.69%. Additionally, the company has reported negative results for the last 11 consecutive quarters, with significant declines in both profit before tax and profit after tax, leading to concerns about its long-term growth potential.
In the broader market context, the stock's recent performance is contrasted against the Sensex, which has shown a decline of only 1.06% over the past week and a 3.70% decline over the past month. This indicates that Indoco Remedies is underperforming relative to the market. The pharmaceutical sector as a whole has also faced challenges, with a decline of 3.27%. Furthermore, the stock's liquidity appears to be decreasing, as evidenced by a significant drop in delivery volume. High institutional holdings suggest some level of confidence from larger investors, but the overall negative operating profits and poor historical performance raise concerns about the stock's viability, contributing to its current downward trajectory.