Why is ITI falling/rising?

As of 31-Jul, ITI Ltd's stock price is currently at 289.70, reflecting a decline of 5.5 points or 1.86%. The stock has been experiencing a downward trend, having fallen consecutively for the last two days, resulting in a total drop of 3.69% during this period. It opened with a loss of 2.35% today and reached an intraday low of Rs 286.75. Over the past week, the stock has decreased by 5.53%, and in the last month, it has seen a significant decline of 12.20%. Despite reporting positive results in the last four consecutive quarters, including a notable growth in net sales, the company faces challenges such as operating losses and a high Debt to EBITDA ratio, which contribute to its weak long-term fundamental strength and low profitability.
In the broader market context, ITI's performance has underperformed compared to the Sensex, which has only declined by 1.22% over the past week. The telecommunications equipment sector, in which ITI operates, has also faced a downturn, falling by 3.99%. Additionally, the stock's liquidity appears to be decreasing, with a notable drop in delivery volume. The limited interest from domestic mutual funds, holding only 0.45% of the company, may indicate a lack of confidence in the stock's current valuation or business prospects. Overall, these factors contribute to the stock's recent decline amidst a challenging market environment.