Why is Trident falling/rising?

As of 08-Aug, Trident Ltd's stock price is currently at 27.70, reflecting a decrease of 0.37, or 1.32%. The stock has been on a downward trend, losing value for the last eight consecutive days, resulting in a total decline of 10.7% during this period. Additionally, Trident's performance over the past week shows a drop of 4.32%, and it has experienced a significant decline of 14.21% over the past month. The stock is trading below its moving averages across various time frames, indicating a bearish sentiment. Despite a strong ability to service debt and positive financial metrics such as a high cash reserve and improved debtor turnover, the stock's recent performance has been poor, with a year-to-date decline of 17.17% and a one-year decline of 27.12%, despite profits rising by 32.3%.
In the broader market context, Trident's performance contrasts sharply with the Sensex, which has increased by 2.20% year-to-date. The stock's recent struggles are compounded by a notable decrease in investor participation, with delivery volume falling by 26.26% against the five-day average. While the company holds a significant market position within its sector, its recent price movements suggest a lack of confidence among investors, particularly in light of its substantial underperformance compared to the benchmark index. Overall, the combination of declining stock price, reduced trading volume, and negative short-term returns relative to the Sensex contributes to the current downward trajectory of Trident Ltd's stock.