Why is AksharChem (I) falling/rising?

As of 16-Jul, AksharChem (India) Ltd is experiencing a decline in its stock price, currently at Rs 298.70, which reflects a decrease of Rs 4.3 or 1.42%. Today's price summary indicates that the stock has underperformed its sector by 2.08%, with an intraday low of Rs 295.55, marking a drop of 2.46%. The stock's performance over the past week shows a decline of 1.74%, while it has seen a significant increase of 18.77% over the past month. Despite positive quarterly results, including the highest net sales and profits, the company faces challenges such as low management efficiency indicated by a low Return on Capital Employed (ROCE) of 3.99% and a negative long-term growth trend in operating profit. Additionally, the stock has consistently underperformed against benchmarks over the past three years.
In the broader market context, the stock's short-term performance has lagged behind the benchmark, with a 1-week decline of 1.74% compared to the Sensex's decline of 1.08%. While the stock has shown some positive movement over the past month, the overall year-to-date performance is negative at -1.06%, contrasting with the Sensex's gain of 5.75%. The falling investor participation, as evidenced by a 16.46% drop in delivery volume, further suggests a lack of confidence among investors, contributing to the stock's current downward trend.