Why is Alankit falling/rising?

As of 21-Jul, Alankit Ltd's stock price is currently at 15.91, reflecting a decrease of 0.04, or 0.25%. The stock has been on a downward trend, having fallen consecutively for the last six days, resulting in a total decline of 6.58% during this period. In terms of performance, the stock has underperformed its sector by 1.11% today. Over the past year, Alankit has generated a return of -31.69%, which indicates significant underperformance compared to the BSE500 index. While the stock has a fair valuation with a Price to Book Value of 1.5 and a Return on Equity (ROE) of 7.6, it is trading at a premium relative to its peers. The company's profits have increased by 4.8%, but this has not translated into positive stock performance, reflecting weak long-term fundamental strength.
In the broader market context, Alankit's recent performance contrasts sharply with the benchmark, as it has declined by 6.41% over the past week while the Sensex has only decreased by 0.06%. The stock's year-to-date performance is particularly concerning, with a drop of 27.29%, while the Sensex has gained 5.20%. This disparity highlights the stock's struggles in both short-term and long-term performance metrics. Additionally, the falling investor participation, evidenced by a 46.49% drop in delivery volume, further exacerbates the stock's challenges, indicating a lack of confidence among investors. Overall, the combination of poor recent returns, weak fundamentals, and declining investor interest contributes to the stock's current downward trajectory.