Why is Iris Clothings falling/rising?

As of 06-Nov, Iris Clothings Ltd is experiencing a decline in its stock price, currently at 31.89, which reflects a decrease of 0.65 or 2.0%. The stock has underperformed its sector by 0.75% today, and its delivery volume has fallen significantly by 24.44% compared to the 5-day average, indicating a decrease in investor participation. Over the past week, the stock has dropped by 3.54%, while its performance over the past month shows a more substantial decline of 9.81%. Year-to-date, however, the stock has gained 5.84%, contrasting with a yearly decline of 6.47%. The stock is currently above its 200-day moving average but below its shorter-term moving averages, suggesting mixed signals regarding its trend.
In the broader market context, the Sensex has shown a decline of 1.42% over the past week, which is less severe than Iris Clothings' performance, indicating that the stock is underperforming relative to the market. The stock's long-term performance is concerning, with a staggering 73.64% drop over the past three years, while the Sensex has gained 40.80% in the same period. This stark contrast highlights the challenges Iris Clothings faces in attracting investor confidence, especially in light of its recent underperformance and declining trading volumes. Overall, the combination of falling investor participation and poor short-term returns relative to the benchmark contributes to the stock's current downward trajectory.