Why is Salasar Techno falling/rising?

As of 04-Aug, Salasar Techno Engineering Ltd's stock price is currently at Rs. 7.11, reflecting a decrease of -0.01 (-0.14%). The stock has been on a downward trend, having fallen for the last three days, resulting in a total decline of -1.66% during this period. Additionally, the stock has hit a new 52-week low of Rs. 7.02 today. Over the past week, it has underperformed the benchmark Sensex, which has gained +0.16%, while Salasar Techno's return has been -1.39%. The company is trading below all its moving averages, indicating a bearish trend, and there has been a notable drop in investor participation, with delivery volume decreasing by -10.32% compared to the five-day average. The company's financials show a high Debt to EBITDA ratio of 2.87, indicating low ability to service debt, and a significant decline in profits of -36.9% over the past year, contributing to negative sentiment around the stock.
In the broader market context, while the Sensex has shown resilience with a +3.69% return year-to-date, Salasar Techno has drastically underperformed with a staggering -49.93% decline in the same timeframe. This stark contrast highlights the company's struggles compared to the overall market. The reduction in promoter stake by -2.03% further signals a lack of confidence in the company's future prospects, which may deter potential investors. Overall, the combination of poor financial performance, decreasing investor interest, and negative market sentiment has led to the stock's continued decline.