Why is Mahaveer Infoway falling/rising?

As of 23-Jul, Mahaveer Infoway Ltd's stock price is currently at Rs 6.94, reflecting a decrease of Rs 0.36 or 4.93%. The stock has been underperforming significantly, with a decline of 9.87% over the past week and 16.49% over the past month. It is also trading lower than all key moving averages, indicating a bearish trend. The stock has fallen consecutively for the last two days, with a total drop of 7.1% during this period. Additionally, the stock is close to its 52-week low, just 3.75% away from Rs 6.68. The company is facing operating losses and has weak long-term fundamentals, with poor growth in net sales and operating profit over the last five years. The negative EBITDA and weak ability to service debt further contribute to the stock's decline.
In the broader market context, Mahaveer Infoway's performance has been notably weaker compared to the benchmark, with the Sensex showing a slight increase of 0.11% over the past week while Mahaveer Infoway has dropped significantly. The stock has consistently underperformed against the benchmark over the last three years, generating a return of -10.10% in the past year compared to the Sensex's 2.86% gain. The falling investor participation, with a drastic drop in delivery volume, suggests a lack of confidence among investors, further exacerbating the stock's downward movement. Overall, the combination of poor financial performance, weak market sentiment, and significant underperformance against benchmarks has led to the stock's decline.