Why is Variman Global falling/rising?

As of 01-Aug, Variman Global Enterprises Ltd is experiencing a decline in its stock price, currently at 13.78, which reflects a decrease of 0.28 or 1.99%. The stock has underperformed its sector today by 0.51% and has been on a downward trend for the last three days, accumulating a total loss of 4.31% during this period. Additionally, the stock's performance over the past month shows a significant decline of 21.21%, while its year-to-date return is positive at 10.95%. However, the company has reported operating losses, with a weak long-term fundamental strength indicated by a negative annual growth rate of operating profit. The recent quarterly results have also been disappointing, with a net sales figure at its lowest and a substantial drop in profit after tax, contributing to the stock's negative sentiment. In the broader market context, Variman's performance has been notably worse than the benchmark, with a one-year return of -33.85% compared to the BSE500's decline of only -4.13%. This stark contrast highlights the stock's underperformance relative to the market. The stock's liquidity appears to be decreasing, with a significant drop in delivery volume, suggesting waning investor interest. Furthermore, the company's high price-to-book value ratio indicates that it is trading at a premium compared to its peers, which may deter potential investors. Overall, the combination of poor financial results, declining investor participation, and a lack of confidence in long-term growth prospects are key factors contributing to the stock's current downward trajectory.