Why is Tejas Networks falling/rising?

As of 28-Jul, Tejas Networks Ltd is experiencing a decline in its stock price, currently at Rs 577.55, which reflects a decrease of Rs 23.7 or 3.94%. The stock has hit a new 52-week low of Rs 574.05 today and has been underperforming the sector by 0.82%. Over the last week, the stock has fallen by 8.35%, and it has seen a significant decline of 51.23% year-to-date. The company has reported negative financial results, including a drastic fall in net sales and a substantial loss in profit after tax, which has contributed to investor concerns. Additionally, institutional investors have reduced their stakes, indicating a lack of confidence in the company's future performance.
In the broader market context, Tejas Networks has underperformed compared to the Sensex, which has only declined by 1.59% over the past week. The IT-Hardware sector, in which Tejas operates, has also seen a decline of 3.09%. While the company has shown healthy long-term growth in net sales and operating profit, the recent negative results and falling participation from institutional investors have overshadowed these positives. The stock's performance over the past year, with a return of -55.53%, further highlights its struggles relative to the broader market, contributing to the current downward trend in its stock price.