Why is Tejas Networks falling/rising?

As of 24-Sep, Tejas Networks Ltd is currently priced at 588.90, reflecting a decrease of 8.0 points or 1.34%. The stock has been on a downward trend, having fallen consecutively for the last five days, resulting in a total decline of 4.86% over that period. It is also trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite outperforming its sector by 1.48% today, the stock has experienced significant negative returns over the past year, with a decline of 53.52%. The company's recent financial results have been troubling, with a drastic fall in net sales by 87.08% and a net profit after tax of -193.87 crore, contributing to a negative sentiment among investors. Additionally, institutional investors have reduced their stake, indicating a lack of confidence in the stock's future performance.
In the broader market context, Tejas Networks has underperformed compared to the benchmark Sensex, which has shown a slight increase of 0.50% over the past month, while Tejas Networks has declined by 5.15% in the same timeframe. The stock's long-term performance is also concerning, as it has generated a staggering -50.27% return year-to-date, contrasting sharply with the Sensex's positive return of 4.58%. The overall decline in the IT - Hardware sector, which has fallen by 2.7%, further exacerbates the challenges faced by Tejas Networks, highlighting a broader trend of weakness in the market that may be impacting investor sentiment and participation.