Why is Karma Energy Ltd falling/rising?

As of 30-Jul, Karma Energy Ltd's stock price is currently at Rs 62.26, reflecting a decrease of Rs 3.19 or 4.87%. The stock has shown significant volatility today, opening with a gain of 3.03% but subsequently touching an intraday low of Rs 62.21. Over the past week, the stock has underperformed, with a return of -5.31%, and it has also seen a substantial decline of -14.58% over the past month. The company's financial health is concerning, as it has reported operating losses and a high Debt to EBITDA ratio of 3.35 times, indicating a low ability to service its debt. Additionally, the stock has underperformed the market over the last year, with a return of -31.97%, despite the market's negative returns of -2.34%.
In the broader market context, while the Sensex has experienced a decline of only 1.50% over the past week, Karma Energy Ltd's performance has been significantly worse, highlighting its struggles relative to the benchmark. The company's weak long-term fundamentals, including a low Return on Equity of 2.41% and a concerning decline in net sales, further exacerbate its challenges. The falling investor participation, evidenced by a dramatic drop in delivery volume, suggests a lack of confidence among investors, contributing to the stock's downward trajectory. Overall, the combination of high volatility, poor financial performance, and underwhelming market returns has led to the stock's current decline.