Why is Alankit falling/rising?

As of 16-Jul, Alankit Ltd's stock price is currently at 16.64, reflecting a decrease of 0.18, or 1.07%. The stock has been underperforming recently, having fallen consecutively for the last three days, resulting in a total decline of 2.29% during this period. Despite a positive performance over the past week and month, with returns of 4.52% and 9.04% respectively, the stock has generated a significant loss of 32.33% over the past year. The stock is trading at a premium compared to its peers, with a fair valuation indicated by a Price to Book Value of 1.5. However, the average Return on Equity (ROE) of 7.6 suggests weak long-term fundamental strength, which may be contributing to the recent price decline.
In the broader market context, Alankit's performance contrasts sharply with the benchmark Sensex, which has shown a decline of 1.08% over the past week and a modest gain of 1.02% over the past month. While the stock has outperformed the benchmark in the short term, its long-term performance remains concerning, with a significant underperformance relative to the BSE500 over the last three years, one year, and three months. The falling investor participation, indicated by a 43.22% drop in delivery volume, further exacerbates the stock's challenges, suggesting a lack of confidence among investors. Overall, these factors contribute to the stock's current downward trajectory.