Why is Kobo Biotech falling/rising?

As of 17-Sep, Kobo Biotech Ltd's stock price is currently at Rs. 2.27, reflecting a decrease of Rs. 0.05, or 2.16%. The stock has recently hit a new 52-week low of Rs. 2.1 today, indicating a significant decline in value. Over the past week, the stock has underperformed its sector by 3.15%, and its performance over the last month shows a decline of 6.58%. Additionally, the stock has experienced a substantial drop of 23.05% over the past year and a staggering 57.33% over the past three years. Despite the negative performance, there has been a notable increase in investor participation, with delivery volume rising by 437.99% against the 5-day average, suggesting some interest from investors despite the overall downward trend.
In the broader market context, the Sensex has shown a positive return of 1.56% over the past week, contrasting sharply with Kobo Biotech's decline. This disparity highlights the stock's underperformance relative to the benchmark. While the stock is currently liquid enough for trading, its moving averages indicate that it is performing lower than the longer-term averages, which could signal ongoing weakness. Overall, the combination of hitting a new low, underperforming against sector benchmarks, and the significant declines over various time frames contribute to the stock's current downward movement.