Why is Tejas Networks falling/rising?

As of 18-Jul, Tejas Networks Ltd is experiencing a decline in its stock price, currently at Rs 639.10, which reflects a decrease of Rs 8.45 or 1.3%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 2.3% during this period. It is also trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock is close to its 52-week low, just 1.48% away from Rs 629.65. The company has reported a significant drop in net sales of 87.08%, leading to very negative results, and its recent performance has been poor, with a year-to-date return of -46.03% and a one-year return of -55.48%. Institutional investors have reduced their stake, indicating a lack of confidence in the stock.
In the broader market context, Tejas Networks has underperformed compared to the Sensex, which has shown a slight increase of 0.38% over the past month while Tejas has declined by 8.62%. This stark contrast highlights the stock's struggles in both short-term and long-term performance, as it has lagged behind the benchmark index over various periods. The company's financial health is concerning, with a high debt-equity ratio and a significant drop in profit after tax, further contributing to the negative sentiment surrounding the stock. Despite some positive long-term growth indicators, such as an annual sales increase and attractive valuation metrics, the immediate outlook remains bleak due to the recent poor financial results and declining investor participation.