Why is Indrayani Biotec falling/rising?

As of 24-Jun, Indrayani Biotech Ltd's stock price is currently at Rs. 13.83, reflecting a slight increase of 0.03 (0.22%). The stock has recently hit a new 52-week low of Rs. 13.01 and has experienced a trend reversal after four consecutive days of decline. Despite this minor uptick, the stock has significantly underperformed, with a one-week return of -9.01% and a year-to-date return of -61.98%. The company's fundamentals are concerning, as it has reported operating losses and a high Debt to EBITDA ratio of 9.25 times, indicating a weak ability to service its debt. Additionally, the stock's performance has been negatively impacted by a substantial drop in profits of -134.9% over the past year, alongside a decline in institutional investor participation.
In the broader market context, the Sensex has shown a positive return of +0.58% over the past week, contrasting sharply with Indrayani Biotech's poor performance. The stock's returns have lagged behind the benchmark significantly, with a one-year decline of -77.28% compared to the Sensex's +6.10%. This underperformance is compounded by the company's weak long-term fundamentals and the fact that institutional investors have reduced their stakes, indicating a lack of confidence in the stock's future prospects. Overall, while there has been a slight uptick in the stock price, the underlying issues and broader market performance suggest a challenging environment for Indrayani Biotech Ltd.