Why is Vineet Laborator falling/rising?

As of 24-Sep, Vineet Laboratories Ltd is experiencing a decline in its stock price, currently at 35.90, which reflects a decrease of 0.6 or 1.64%. The stock has underperformed its sector by 1.19% today and has seen a trend reversal after two consecutive days of gains. Despite being higher than the 5-day, 20-day, 50-day, and 100-day moving averages, it remains lower than the 200-day moving average. The stock has shown a year-to-date decline of 42.42% and a one-year decline of 38.63%, indicating significant underperformance against the benchmark. The company's fundamentals are weak, with a negative EBITDA and a substantial drop in operating profits over the last five years, contributing to the stock's poor performance.
Broader Market Context: In the short term, Vineet Laboratories has shown a slight increase of 1.13% over the past week, while the Sensex has decreased by 1.18%, suggesting that the stock has outperformed the broader market recently. However, the long-term outlook remains bleak, with consistent underperformance against the benchmark over the last three years. The reduction in promoter confidence, as evidenced by a 6.59% decrease in their stake, further exacerbates concerns about the company's future prospects. Overall, the combination of weak financial results, declining investor confidence, and a negative growth trajectory contributes to the stock's downward movement.