Why is VL E-Governance falling/rising?

As of 28-Aug, VL E-Governance & IT Solutions Ltd is experiencing a decline in its stock price, currently at Rs 35.32, which reflects a decrease of Rs 1.23 or 3.37%. The stock has been underperforming, having lost 6.26% over the last two days and showing a significant drop of 24.71% over the past month. Despite a recent high of Rs 37.36, the stock has been trading below all its moving averages, indicating a bearish trend. While there was a notable increase in delivery volume, suggesting rising investor participation, the company's long-term fundamentals remain weak, with a negative EBITDA and poor growth metrics, including a 79.50% annual decline in net sales over the past five years.
In the broader market context, the stock's performance has been notably worse than the benchmark, with a 1-week return of -4.00% compared to the Sensex's -2.34%. The stock has also underperformed significantly over the past year, with a return of -69.33% against the Sensex's -2.08%. This stark contrast highlights the challenges faced by VL E-Governance, particularly in light of its weak long-term growth prospects and the negative sentiment surrounding its financial health, which has contributed to its ongoing price decline.