Why is VL E-Governance falling/rising?

As of 15-Oct, VL E-Governance & IT Solutions Ltd is experiencing a decline in its stock price, currently at Rs 26.75, which reflects a decrease of Rs 1.4 or 4.97%. The stock has been underperforming significantly, with a consecutive fall over the last two days resulting in an overall drop of 8.04%. It is also trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the stock is close to its 52-week low, being just 2.77% away from Rs 26.01. The delivery volume has seen a drastic decline of 79.14% compared to the 5-day average, suggesting falling investor participation, which may further contribute to the stock's downward pressure.
In the broader market context, the stock's performance over the past week shows a decline of 1.07%, while the benchmark Sensex has increased by 1.02%. Over the past month, VL E-Governance has dropped by 26.89%, contrasting sharply with the Sensex's modest gain of 1.00%. Year-to-date, the stock has plummeted by 85.42%, while the Sensex has risen by 5.72%. This stark difference highlights the stock's struggles relative to the overall market, reinforcing the notion that it is facing significant challenges that are not reflected in the broader market trends.