Why is Tejas Networks falling/rising?

As of 21-Jul, Tejas Networks Ltd is experiencing a decline in its stock price, currently at Rs. 630.15, which reflects a decrease of Rs. 8.95 or 1.4%. The stock has hit a new 52-week low today and has been on a downward trend, falling consecutively for the last three days with a total decline of 3.67%. In terms of performance, the stock has underperformed significantly over various time frames, showing a 1-week return of -9.90% and a 1-month return of -11.12%. Additionally, the company reported very negative results with a drastic fall in net sales by -87.08%, contributing to the stock's poor performance. Despite some positive long-term growth indicators, such as a healthy annual growth rate in net sales and operating profit, the recent financial results and falling investor participation have overshadowed these factors.
In the broader market context, Tejas Networks has underperformed compared to the Sensex, which has seen a minimal decline of only 0.06% over the past week. The IT-Hardware sector, in which Tejas operates, has also faced challenges, falling by 2.22%. The decrease in institutional investor participation, with a reduction in their stake by -0.76%, further indicates a lack of confidence in the stock's prospects. Overall, while the company has a strong market position and potential for long-term growth, the immediate financial results and market sentiment have led to a negative outlook, contributing to the stock's decline.