Why is Mihika Industrie falling/rising?

As of 12-Aug, Mihika Industries Ltd is experiencing a decline in its stock price, currently at Rs 18.42, which represents a decrease of 1.58 or 7.9%. The stock has underperformed its sector by 6.98% today and has fallen after two consecutive days of gains. It opened with a loss of 2.4% and reached an intraday low of Rs 18, reflecting a significant drop of 10%. Over the past week, the stock has decreased by 3.46%, and its year-to-date performance shows a decline of 24.35%. The company has reported positive results for the last three consecutive quarters, with net sales higher at Rs 28.32 crore; however, it faces challenges such as operating losses and a weak ability to service its debt, which negatively impacts investor sentiment.
In the broader market context, the Sensex has only declined by 0.59% over the past week, indicating that Mihika Industries' performance is significantly worse than the benchmark. The stock's long-term fundamentals are weak, with an annual growth rate of operating profit at only 13.50% over the last five years and a negative EBITDA, which adds to the risk perception among investors. Additionally, the stock has underperformed the BSE500 over the last three years, one year, and three months, further contributing to its downward trend.