Why is Aether Industri. falling/rising?

As of 24-Sep, Aether Industries Ltd is experiencing a decline in its stock price, currently at Rs 738.00, which reflects a decrease of Rs 3.15 or 0.43%. The stock has been losing value for the last two days, with a total drop of 2% during this period. It is also close to its 52-week low, just 1.82% away from Rs 724.6. The stock has shown a negative performance over the past month, down 4.03%, and a significant decline of 16.55% year-to-date. Despite positive results in the last three quarters, including a 229.98% growth in PAT, the company faces challenges such as a low return on equity of 7.5 and a high price-to-book ratio of 4.4, indicating an expensive valuation. Additionally, a decrease in promoter stake by 6.77% suggests reduced confidence in the company's future.
In the broader market context, Aether Industries has underperformed against the Sensex, which has gained 4.58% year-to-date, while Aether's returns have been negative at -16.55%. The stock's recent performance contrasts with the benchmark, as it has generated a return of -24.32% over the past year, while the Sensex has only declined by 3.77%. This consistent underperformance, coupled with falling investor participation and liquidity concerns, contributes to the negative sentiment surrounding the stock. Overall, the combination of poor long-term growth prospects and declining promoter confidence has led to the stock's downward movement.