Why is Pharmaids Pharma falling/rising?

As of 10-Oct, Pharmaids Pharmaceuticals Ltd is experiencing a decline in its stock price, currently at Rs 44.01, which reflects a decrease of Rs 3.04 or 6.46%. The stock has been underperforming significantly, having fallen consecutively for the last nine days, resulting in a total drop of 27.83% during this period. Today's trading saw the stock reach an intraday high of Rs 51.44 but also dip to a low of Rs 44, indicating high volatility with an intraday fluctuation of 7.8%. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which suggests a bearish trend. While there has been a notable increase in investor participation, with delivery volume rising by 167.07% against the 5-day average, the overall sentiment remains negative.
In the broader market context, Pharmaids Pharmaceuticals has significantly underperformed compared to the Sensex, which has gained 1.59% over the past week while the stock has dropped by 23.55%. This stark contrast highlights the challenges the company is facing relative to the market. Over the past month, the stock has decreased by 26.65%, while the Sensex has managed a modest gain of 1.32%. The year-to-date performance shows a decline of 37.56% for Pharmaids, contrasting sharply with the Sensex's increase of 5.58%. This underperformance against the benchmark indicates that investor confidence in Pharmaids is waning, contributing to the stock's downward trajectory.