Why is Mid India Inds. falling/rising?

As of 22-Jul, Mid India Industries Ltd is experiencing a decline in its stock price, currently at 7.50, which reflects a decrease of 0.03 or 0.4%. The stock has been underperforming, having fallen for the last three days with a total return of -10.07% during this period. It is trading below all its moving averages, indicating a bearish trend. Additionally, the stock's performance over the past week and month shows declines of 2.22% and 2.60%, respectively, while it has significantly underperformed the benchmark over the past year with a return of -30.23%. The company is facing challenges such as a negative book value, high debt levels, and poor long-term growth, which contribute to its weak fundamental strength and have likely influenced the recent price drop.
In the broader market context, the stock's short-term performance is notably worse than the benchmark, with the Sensex only declining by 0.47% over the same week. This consistent underperformance against the benchmark over the last three years, coupled with a significant drop in investor participation—evidenced by a 33.73% decrease in delivery volume—suggests a lack of confidence among investors. The company's weak financials, including a negative EBITDA and declining net sales, further exacerbate its challenges in the market, reinforcing the perception of the stock as a risky investment.