Why is VL E-Governance falling/rising?

As of 24-Jun, VL E-Governance & IT Solutions Ltd is experiencing a decline in its stock price, currently at Rs 49.50, which reflects a decrease of 2.36 (-4.55%). The stock has underperformed its sector today, opening with a loss of 3.57% and reaching an intraday low of Rs 49.28, marking a total drop of 4.97%. Over the past week, the stock has fallen by 9.51%, and it has seen a significant year-to-date decline of 73.02%. Additionally, the stock is trading below all key moving averages, indicating a bearish trend. Although there has been a notable increase in investor participation, with delivery volume rising by 14548.41% against the 5-day average, the overall sentiment remains negative, and no specific positive or negative factors are provided to explain the recent movements.
In the broader market context, the stock's performance contrasts sharply with the Sensex, which has gained 0.58% over the past week. This indicates that while the market is experiencing some upward momentum, VL E-Governance is significantly lagging behind, reflecting a lack of investor confidence in the company compared to the overall market. The stark difference in returns, with the stock down 20.25% over the past month against a slight gain of 0.41% for the Sensex, further emphasizes the challenges faced by VL E-Governance in attracting investor interest amidst a generally stable market environment.