Why is Parmax Pharma falling/rising?

As of 22-Jul, Parmax Pharma Ltd's stock is currently priced at Rs 39.00, reflecting a decline of Rs 1.3, or 3.23%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total drop of 4.55% during this period. It opened with a loss of 2.98% today and reached an intraday low of Rs 39. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a decrease in investor participation, with delivery volume falling by 11.46% compared to the 5-day average. While the company has reported positive results for the last three consecutive quarters, its long-term fundamentals are weak, highlighted by a negative book value and poor growth metrics, which contribute to the stock's recent decline.
In the broader market context, Parmax Pharma's short-term performance has significantly lagged behind the benchmark Sensex, with a 1-week return of -7.14% compared to the Sensex's -0.47%. This stark contrast indicates that the stock is not only struggling in its own right but is also failing to keep pace with the overall market. Despite a positive net sales growth of 111.08% over the last nine months, the company's weak long-term growth prospects and negative operating profits create a risky investment environment, further exacerbating the stock's downward movement.