Why is Airan falling/rising?

As of 03-Jul, Airan Ltd's stock price is currently at 31.17, reflecting a decrease of 0.26, or 0.83%. The stock has been underperforming, having lost 2.56% over the last two days and underperformed its sector by 0.63% today. Despite a positive performance over the past week with a return of 2.36%, the stock's year-to-date performance shows a decline of 5.26%. Additionally, the stock is trading at a premium compared to its peers, with a fair valuation indicated by a Price to Book Value of 2.7. However, the company's recent financial performance raises concerns, as evidenced by a significant drop in profit before tax and net sales, which have negatively impacted investor sentiment.
In the broader market context, while the Sensex has shown a positive return of 3.10% over the past month, Airan Ltd's performance has been notably weaker, with a 1-month return of 13.55%. This disparity highlights the stock's struggles in comparison to the benchmark. Furthermore, the falling investor participation, as indicated by a 45.47% drop in delivery volume, suggests a lack of confidence among investors, contributing to the stock's recent decline. Overall, the combination of poor long-term growth prospects, declining profits, and underperformance relative to the market has led to the stock's downward movement.