Why is Variman Global falling/rising?

As of 31-Jul, Variman Global Enterprises Ltd is experiencing a decline in its stock price, currently at 14.06, which reflects a decrease of 0.28 or 1.95%. The stock has underperformed its sector by 1.41% today and has been on a downward trend for the last two days, accumulating a total drop of 2.36%. Over the past week, the stock has shown a modest gain of 2.33%, but it has significantly underperformed over the longer term, with a 1-month return of -19.61% and a 1-year return of -32.66%. The company is facing challenges, including operating losses and a weak long-term fundamental strength, as indicated by a negative profit after tax and declining net sales. Additionally, the stock is trading at a premium compared to its peers, with a high price-to-book value ratio, which further complicates its valuation.
In the broader market context, while the BSE500 index has also generated negative returns of -3.20% over the past year, Variman's decline of -32.66% indicates a much steeper fall relative to the benchmark. This significant underperformance suggests that investor confidence in Variman is waning, especially in light of falling investor participation and a substantial drop in delivery volume. The stock's liquidity remains adequate for trading, but the overall sentiment is negative, compounded by the company's poor financial results and lack of growth, which are likely contributing to the ongoing decline in its stock price.