Why is Zenlabs Ethica falling/rising?

As of 12-Aug, Zenlabs Ethica Ltd is experiencing a decline in its stock price, currently at 31.13, reflecting a decrease of 0.57 or 1.8%. The stock has underperformed its sector by 0.89% today and has been on a downward trend, losing 5.67% over the last three days. It is trading below all key moving averages, indicating a bearish sentiment. Over the past week, the stock has dropped by 7.52%, and its year-to-date performance shows a significant decline of 21.19%. The company's fundamentals are weak, with a low return on equity of 7.31% and negative growth in net sales, which have decreased at an annual rate of 2.59%. Additionally, the recent financial results have shown the lowest figures for net sales and profit before depreciation and interest, contributing to the stock's negative outlook.
In the broader market context, Zenlabs Ethica's performance has been notably poor compared to the benchmark, with a consistent underperformance against the BSE500 over the last three years. While the Sensex has gained 2.68% year-to-date, Zenlabs has seen a substantial decline, highlighting its struggles in a generally positive market environment. Despite a rise in investor participation, as indicated by a significant increase in delivery volume, the overall sentiment remains negative due to the company's weak long-term fundamentals and high valuation compared to its peers.