Why is VL E-Governance falling/rising?

As of 25-Jun, VL E-Governance & IT Solutions Ltd is experiencing a decline in its stock price, currently at Rs 47.12, which represents a decrease of 2.38 (-4.81%). The stock has underperformed its sector by 6.39% today and has been on a downward trend for the last two days, with a total loss of 9.14% during this period. Despite opening with a gain of 2.02% and reaching an intraday high of Rs 50.5, it fell to a day's low of Rs 47.12. The stock has shown significant volatility, with an intraday fluctuation of 5.1%, and is trading below all major moving averages. Additionally, the company has reported poor financial performance, with operating losses and a weak ability to service its debt, leading to a negative EBITDA and a concerning PEG ratio of 3.2. Institutional investor participation has also decreased, indicating a lack of confidence in the company's fundamentals.
In the broader market context, VL E-Governance has significantly underperformed compared to the benchmark, with a one-week return of -12.11% against the Sensex's +1.61% and a year-to-date decline of -74.31% compared to the Sensex's +5.91%. This consistent underperformance over the past three years highlights the stock's struggles relative to the market, further exacerbated by the company's weak long-term growth prospects and declining investor interest. The overall market appears to be moving positively, contrasting sharply with the challenges faced by VL E-Governance, which is reflected in its substantial losses and negative investor sentiment.