Why is IRB Infra.Devl. falling/rising?

As of 13-Nov, IRB Infrastructure Developers Ltd is experiencing a decline in its stock price, currently at Rs 42.35, which reflects a decrease of Rs 0.96 or 2.22%. The stock has underperformed significantly, with a 1-week return of -5.62% and a year-to-date return of -25.99%, while the benchmark Sensex has shown positive returns of +1.40% and +8.11% respectively over the same periods. Today's performance indicates that the stock is trading lower than all its moving averages, and it is also close to its 52-week low, being just 4.27% away from Rs 40.54. Despite a rise in investor participation, with a 26.59% increase in delivery volume, the company's weak long-term fundamentals, including a low Return on Capital Employed (ROCE) of 7.88% and a high Debt to EBITDA ratio of 5.18 times, contribute to its negative price movement.
Broader Market Context: The stock's performance has been notably poor compared to the broader market, as evidenced by its substantial underperformance over the past year, generating a return of -12.75% against the BSE500's return of +8.17%. This stark contrast highlights the challenges faced by IRB Infrastructure, particularly in light of its flat quarterly results and declining net sales. The high institutional holdings at 52.98% suggest that knowledgeable investors are cautious about the stock's prospects, further indicating a lack of confidence in its ability to recover in the near term. Overall, the combination of weak financial performance and unfavorable market conditions has led to the stock's downward trajectory.