Why is SpiceJet falling/rising?

As of 07-Aug, SpiceJet Ltd is experiencing a decline in its stock price, currently at Rs. 33.00, reflecting a decrease of Rs. 0.55 or 1.64%. The stock has hit a new 52-week low of Rs. 32.81 today and has been on a downward trend, losing value for the past seven days with a total decline of 12.63%. Additionally, the stock has underperformed its sector by 1.04%. Over the past week, SpiceJet has seen a significant drop of 9.71%, and its year-to-date performance shows a staggering decline of 40.43%, contrasting sharply with the Sensex, which has gained 3.18% during the same period. The stock is trading below all its moving averages, indicating a bearish trend. There is no information available regarding positive or negative factors that could influence the stock's recent movement.
In the broader market context, SpiceJet's short-term performance has been notably worse than the benchmark, with a 1-week return of -9.71% compared to the Sensex's -0.69%. This stark contrast highlights the stock's struggles relative to the overall market. While the Sensex has shown resilience with a slight gain over the year, SpiceJet's long-term returns are also concerning, with a 1-year decline of 42.04% against the Sensex's modest gain of 1.45%. The liquidity of the stock remains adequate for trading, as indicated by the delivery volume, but the overall negative performance suggests significant challenges ahead for the company.