Why is Tejas Networks falling/rising?

As of 25-Jul, Tejas Networks Ltd is experiencing a decline in its stock price, currently at Rs. 601.25, which reflects a decrease of Rs. 20.55 or 3.3%. The stock has hit a new 52-week low of Rs. 600 today and has shown a performance that is in line with its sector, which has also fallen by 3.4%. Over the past week, Tejas Networks has underperformed with a return of -5.92%, and it has significantly lagged behind the benchmark, the Sensex, which has only decreased by 0.36%. The stock is trading below all its moving averages, indicating a bearish trend, and there has been a notable drop in investor participation, with delivery volume falling by 5.5% against the 5-day average.
In the broader market context, the stock's poor performance is compounded by a significant decline in net sales of -87.08% reported in June, leading to very negative results. Institutional investors have also reduced their stake in the company, which may reflect a lack of confidence in its future performance. Despite some positive long-term growth indicators, such as an annual sales growth rate of 89.59% and an attractive valuation compared to peers, the overall sentiment remains negative due to the recent financial results and declining investor interest. This combination of factors has contributed to the stock's downward movement, particularly in the short term compared to the benchmark.