Why is KIOCL falling/rising?

As of 08-Oct, KIOCL Ltd's stock price is currently at Rs 518.50, reflecting a decline of Rs 44.8 or 7.95%. The stock has been underperforming recently, having fallen for the last two days with a total decline of 17.04%. Despite this short-term drop, KIOCL has shown strong performance over longer periods, with a 47.28% increase over the past year and a remarkable 175.80% rise over the last three years. However, the company is facing significant challenges, including operating losses and negative EBITDA, which have contributed to its weak long-term fundamental strength. The company's net sales have decreased by 38.29%, and it has reported negative profits for the last six consecutive quarters, which raises concerns among investors.
In the broader market context, KIOCL's recent performance contrasts sharply with the benchmark Sensex, which has only increased by 0.98% over the past week. While KIOCL has outperformed the benchmark in the long term, its recent decline highlights investor apprehension regarding its financial health, particularly given the low return on equity and the minimal stake held by domestic mutual funds. This situation suggests that while the stock has had a strong historical performance, current operational challenges and negative financial results are leading to a sell-off, overshadowing its past successes.