Why is Karma Energy Ltd falling/rising?

As of 30-Sep, Karma Energy Ltd's stock price is currently at 60.00, reflecting a decrease of 1.63, or 2.64%. The stock has been on a downward trend, having fallen for the last four consecutive days, resulting in a total decline of 16.52% during this period. Additionally, the stock opened with a loss of 2% today and reached an intraday low of Rs 58.55, which is a 5% drop. In terms of performance against benchmarks, the stock has underperformed the sector by 2.24% today and has shown a significant decline of 21.05% over the past year, compared to a lesser decline of 4.78% in the Sensex. The company's weak long-term fundamentals, characterized by operating losses and a poor EBIT to Interest ratio of -1.09, further contribute to the negative sentiment surrounding the stock.
Broader Market Context: In the short term, Karma Energy Ltd's performance has been notably worse than the broader market, as evidenced by its 1-week return of -8.17% compared to the Sensex's decline of only 2.23%. Despite a positive return of 17.67% over the past month, the stock's overall trajectory remains concerning, particularly given its substantial underperformance over the last year. The broader market has shown some resilience, with the Sensex gaining 2.72% year-to-date, contrasting sharply with Karma Energy's decline of 2.04%. This disparity highlights the challenges the company faces in regaining investor confidence amidst its operational difficulties and declining shareholder returns.