Why is Waa Solar falling/rising?

As of 15-Jul, Waa Solar Ltd's stock price is currently at 73.70, reflecting a decrease of 1.3, or 1.73%. The stock has been underperforming recently, having fallen for three consecutive days with a total decline of 5.03% during this period. Today, it opened with a loss of 2.52%, reaching an intraday high of Rs 76.99 and a low of Rs 72.1. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, while the stock has seen a rise in delivery volume by 20.54% against the 5-day average, the overall performance remains weak, with a year-to-date decline of 37.96% compared to a 5.67% increase in the benchmark Sensex.
In the broader market context, Waa Solar's short-term performance has been significantly worse than the benchmark, with a 1-week return of -5.39% compared to the Sensex's -1.36%. This underperformance highlights the stock's struggles relative to the overall market. Despite the increase in investor participation, the stock's liquidity remains adequate for trading, but the persistent decline in price suggests a lack of confidence among investors. Overall, the combination of negative price movements, underperformance against the benchmark, and the absence of positive factors in the dashboard contributes to the stock's downward trajectory.