Why is Veejay Lak. Eng. falling/rising?

As of 07-Jul, Veejay Lakshmi Engineering Works Ltd is experiencing a decline in its stock price, currently at Rs 52.09, which reflects a decrease of Rs 1.85 or 3.43%. The stock has underperformed its sector by 3.14% today, opening with a loss of 2.65% and reaching an intraday low of Rs 52, down 3.6%. Over the past week, the stock has fallen by 5.12%, and it has seen a significant decline of 41.44% year-to-date. The company's financial health is concerning, with operating losses and a weak long-term fundamental strength indicated by low net sales growth and a high debt-to-EBITDA ratio. Recent negative quarterly results, including a substantial drop in profit after tax and net sales, further exacerbate the stock's poor performance. Additionally, a decrease in promoter stake suggests diminishing confidence in the company's future.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark Sensex, which has only declined by 0.20% over the past week. While Veejay Lakshmi Engineering Works Ltd has struggled significantly, the Sensex has shown resilience with a positive return of 1.53% over the past month. This underperformance relative to the benchmark highlights the challenges faced by the company, particularly in light of its negative EBITDA and the overall poor sentiment reflected in its stock price movements.