Why is Kobo Biotech falling/rising?

As of 23-Jul, Kobo Biotech Ltd's stock price is currently at Rs. 2.34, reflecting a decrease of Rs. 0.07 or 2.9%. The stock has recently hit a new 52-week low of Rs. 2.31 and has been on a downward trend, having fallen consecutively for the last two days with a total decline of 7.51% over the past week. The company's performance has been poor, with net sales declining at an annual rate of -100.00% and operating profit at just 6.52% over the last five years. Additionally, the stock has underperformed significantly, generating a return of -43.61% over the past year, while also showing weak fundamentals, as it has not declared results in the last six months, contributing to its perception as a risky investment.
In the broader market context, Kobo Biotech's recent performance contrasts sharply with the Sensex, which has seen a slight increase of 0.11% over the past week. The stock's underperformance is further highlighted by its negative returns compared to the benchmark indices over various periods, including a decline of 4.49% over the last month and 53.75% over the last three years. Despite a rise in investor participation, as indicated by a 71.37% increase in delivery volume, the overall sentiment remains bearish due to the company's weak long-term growth prospects and high debt levels, which continue to weigh heavily on its stock price.