Why is Aaron Industries falling/rising?

As of 22-Sep, Aaron Industries Ltd is experiencing a decline in its stock price, currently at Rs. 189.60, which reflects a decrease of Rs. 10.99 or 5.48%. The stock has hit a new 52-week low of Rs. 187.56 today and has underperformed its sector by 4.98%. Over the past week, the stock has decreased by 5.23%, and its performance over the last month shows a significant drop of 55.91%. Additionally, the stock is trading below all its moving averages, indicating a bearish trend. Despite a high management efficiency with a return on capital employed (ROCE) of 18.89% and healthy long-term growth in net sales, the recent quarterly results have shown a substantial decline in profit after tax (PAT) by 48.5%, contributing to the negative sentiment around the stock.
In the broader market context, the Sensex has shown a positive return of 0.53% over the past week, contrasting sharply with Aaron Industries' performance. This disparity highlights the stock's underperformance relative to the benchmark, particularly as it has generated a return of -28.59% over the past year while the Sensex has only declined by 2.28%. The stock's valuation appears expensive given its low earnings per share (EPS) and the significant drop in profits, which has led to a lack of investor confidence and falling participation in trading. Overall, the combination of poor recent financial results, a bearish trend in stock performance, and underperformance against the market has contributed to the decline in Aaron Industries' stock price.