Why is Nandan Denim falling/rising?

As of 05-Aug, Nandan Denim Ltd's stock price is currently at 3.50, with no change observed (0.00%). The stock has underperformed in the short term, with a 1-week decline of 3.85% and a 1-month decline of 8.38%. Despite this, there has been a notable increase in investor participation, as evidenced by a delivery volume of 30.89 lacs on 04 Aug, which is up by 40.32% compared to the 5-day average. However, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The absence of specific positive or negative factors makes it difficult to assess the reasons behind the stock's recent performance comprehensively.
In the broader market context, Nandan Denim's recent performance contrasts sharply with the Sensex, which has shown a decline of only 0.77% over the past week. The stock's year-to-date performance is particularly concerning, with a drop of 27.98%, while the Sensex has gained 3.29% during the same period. This significant underperformance relative to the benchmark suggests that investor sentiment towards Nandan Denim may be weak, contributing to its declining stock price.