Why is Subex falling/rising?

As of 13-Jun, Subex Ltd's stock price is currently at 15.15, reflecting a decline of 0.89, or 5.55%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total drop of 9.34% during this period. Despite a recent increase in investor participation, with delivery volume rising by 31.88% against the 5-day average, the company is facing significant challenges. The financial health of Subex is concerning, as indicated by its operating losses and a negative EBIT to interest ratio of -0.10, alongside a low return on equity of 2.58%. Additionally, the company's recent negative results, including a PAT of Rs -17.60 crore, have contributed to its weak long-term fundamental strength, leading to a perception of risk among investors.
In the broader market context, Subex's short-term performance has been relatively better than the benchmark, with a 1-week return of +0.60% compared to the Sensex's -1.30%. However, the stock has significantly underperformed over longer periods, with a year-to-date return of -30.95% against the Sensex's +3.81%. This consistent underperformance, coupled with the company's financial struggles and negative EBITDA, suggests that while there may be some short-term interest from institutional investors, the overall sentiment remains bearish, contributing to the stock's decline.