Why is Sparc Electrex falling/rising?

As of 30-Sep, Sparc Electrex Ltd is currently priced at 6.21, reflecting a decline of 0.12 or 1.9%. The stock has been experiencing a downward trend, having lost 3.87% over the last three days and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock has shown significant underperformance, with a year-to-date return of -56.27% and a one-year return of -60.42%. The company is facing operational challenges, including negative EBITDA and a high Debt to EBITDA ratio, which indicates a weak ability to service its debt. Furthermore, the stock has consistently underperformed against the benchmark, the BSE500, over the last three years, contributing to its current negative sentiment among investors.
In the broader market context, the Sensex has shown a decline of 2.23% over the past week, while Sparc Electrex's performance of -1.11% indicates that it is faring slightly better than the benchmark in the short term. However, the overall market conditions do not seem to favor the stock, as it has been losing investor participation, evidenced by a decrease in delivery volume. The liquidity of the stock remains adequate for trading, but the persistent operational losses and low profitability metrics suggest that investor confidence is waning, leading to the stock's continued decline.