Why is NIIT falling/rising?

As of 28-Aug, NIIT Ltd's stock price is currently at Rs 108.25, reflecting a decrease of Rs 2.2 or 1.99%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 4.29% during this period. Additionally, it has underperformed its sector by 0.62%. The stock is trading below all its moving averages, indicating a bearish trend. Over the past week, NIIT's stock has decreased by 5.17%, and it has shown a significant decline of 43.29% year-to-date. The company's financial health is concerning, with a negative EBITDA and poor long-term growth metrics, including a drastic drop in net sales and operating profit over the last five years. Despite having a low debt-to-equity ratio and high institutional holdings, the overall negative financial performance and recent quarterly results have contributed to the stock's downward movement.
In the broader market context, NIIT's recent performance contrasts with the benchmark Sensex, which has declined by only 2.34% over the past week. This indicates that while the market is experiencing a downturn, NIIT is suffering a more severe decline. The stock's year-to-date performance is particularly troubling, as it has underperformed the Sensex, which has gained 2.48% in the same period. The falling investor participation, as evidenced by a 20.94% drop in delivery volume, further suggests a lack of confidence among investors, exacerbating the stock's decline. Overall, the combination of poor financial results, negative growth indicators, and underperformance relative to the benchmark has led to NIIT's current downward trajectory.