Why is VL E-Governance falling/rising?

As of 28-Jul, VL E-Governance & IT Solutions Ltd is experiencing a decline in its stock price, currently at 46.91, reflecting a decrease of 0.95 or 1.98%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 7.48% during this period. Additionally, the stock is trading below all its moving averages, indicating a bearish trend. The company's financial performance has been poor, with significant operating losses and a weak long-term growth outlook, as evidenced by a staggering annual decline in net sales of 79.50% and an operating profit decline of 123.70% over the past five years. Furthermore, the company's ability to service its debt is compromised, with a negative EBIT to interest ratio of -4.19, contributing to the stock's negative sentiment among investors.
In the broader market context, the stock's performance has been notably worse than the benchmark, with a one-week return of -5.84% compared to the Sensex's -1.59%. Over the past year, VL E-Governance has generated a return of -46.93%, while the Sensex has remained relatively stable with a decline of only 0.54%. The lack of investor participation is also concerning, as evidenced by an 84.55% drop in delivery volume compared to the five-day average. This lack of confidence is further highlighted by the absence of domestic mutual fund holdings, indicating that institutional investors may be wary of the stock's valuation and business prospects. Overall, the combination of poor financial results, negative investor sentiment, and underperformance relative to the market contributes to the stock's downward trajectory.