Why is Zen Technologies falling/rising?

As of 04-Sep, Zen Technologies Ltd is experiencing a decline in its stock price, currently at 1,473.55, reflecting a decrease of 8.6 points or 0.58%. The stock has been losing value for the last three days, with a total drop of 2.09% during this period. Although the stock is performing inline with its sector today, it has shown a negative return of 1.58% over the past month and a significant decline of 39.74% year-to-date. Key financial metrics indicate a concerning trend, with net sales falling by 35% in the latest quarter compared to the previous four-quarter average, and a decrease in profit before tax by 37.4%. Despite a healthy long-term growth rate in net sales and operating profit, the stock's valuation appears expensive with a price-to-book value of 7.8, contributing to investor skepticism.
In the broader market context, Zen Technologies has outperformed the Sensex in the past week with a return of 1.14% compared to the benchmark's 0.80%. However, the stock's year-over-year performance remains negative at -11.21%, while the Sensex has only declined by 1.98%. Institutional investor participation has also decreased, with a reduction of 0.63% in their stake over the last quarter, indicating a lack of confidence from more sophisticated investors. This decline in institutional interest, combined with the company's recent financial struggles, suggests that the stock may continue to face downward pressure in the near term.