Why is Indrayani Biotec falling/rising?

As of 15-Sep, Indrayani Biotech Ltd's stock price is currently at 11.96, reflecting a decrease of 0.36, or 2.92%. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Over the past week, the stock has seen a slight decline of 0.33%, and it has significantly underperformed the benchmark Sensex, which has gained 1.24% in the same period. The company has faced negative results for the last five consecutive quarters, with a substantial drop in operating profits and a high Debt to EBITDA ratio, which suggests weak long-term fundamental strength. Additionally, institutional investors have reduced their stakes, reflecting a lack of confidence in the company's future performance.
Broader market context shows that while the stock has been declining, the overall market, represented by the Sensex, has been performing positively. The floriculture sector, in which Indrayani operates, has also experienced a decline of 2.85%, contributing to the stock's downward movement. The company's year-to-date performance is particularly concerning, with a staggering drop of 67.12%, compared to a modest 4.67% gain in the broader market. This consistent underperformance against the benchmark over the last three years further highlights the challenges faced by Indrayani Biotech Ltd, leading to its current price decline.