Why is Zen Technologies falling/rising?

As of 26-Aug, Zen Technologies Ltd is experiencing a decline in its stock price, currently at Rs 1,509.00, which reflects a decrease of Rs 30.2 or 1.96%. The stock has underperformed its sector by 1.46% today and has fallen after three consecutive days of gains, touching an intraday low of Rs 1,471, which is a drop of 4.43%. Over the past week, the stock has shown a positive return of 6.18%, but it has significantly underperformed over the last month and year-to-date, with returns of -15.08% and -38.29%, respectively. Despite a healthy long-term growth in net sales and operating profit, recent quarterly results show a substantial decline in net sales and profit before tax, contributing to a perception of the stock as a strong sell. Additionally, a decrease in institutional investor participation may indicate a lack of confidence in the stock's future performance.
In the broader market context, while the BSE500 index has generated negative returns of -3.87% over the past year, Zen Technologies has significantly underperformed with a return of -19.57%. This stark contrast highlights the challenges the company faces in attracting investor interest, particularly from institutional investors who have reduced their stakes. The stock's valuation appears expensive relative to its peers, and despite a rising delivery volume, the overall sentiment remains cautious due to the recent declines in key financial metrics.