Why is Veejay Lak. Eng. falling/rising?

As of 19-Aug, Veejay Lakshmi Engineering Works Ltd is experiencing a decline in its stock price, currently at Rs 62.01, which represents a decrease of 4.96 or 7.41%. Today's price summary indicates that the stock opened significantly lower, with a gap down of 5.93%, and reached an intraday low of Rs 62, reflecting a drop of 7.42%. The stock has underperformed its sector by 7.13%, and the trading volume has decreased dramatically, with a delivery volume drop of 99.47% compared to the 5-day average. Over the past year, the stock has shown a substantial decline of 40.94%, which is significantly worse than the broader market's negative return of 0.91%. The company's financial health is concerning, with operating losses and a negative EBITDA, indicating weak long-term fundamental strength.
In the broader market context, the stock's short-term performance has been unfavorable compared to the benchmark, as it has underperformed the Sensex, which gained 1.76% over the past week. While the stock has shown some recovery in the last month with a return of 5.12%, its year-to-date performance remains poor at -30.29%. The company's weak financial metrics, including a high Debt to EBITDA ratio and flat results in recent quarters, further exacerbate investor concerns, contributing to the stock's downward movement. Overall, the combination of poor financial performance, declining investor participation, and significant underperformance relative to the market has led to the current decline in Veejay Lakshmi Engineering Works Ltd's stock price.