Why is Alankit falling/rising?

As of 22-Jul, Alankit Ltd's stock price is currently at 15.76, reflecting a decrease of 0.15, or 0.94%. The stock has been on a downward trend, having underperformed its sector by 0.73% today and experiencing a consecutive fall for the last seven days, resulting in a total decline of 7.46% during this period. Over the past year, the stock has generated a return of -35.62%, indicating significant underperformance compared to the BSE500 index. Additionally, the stock is trading at a premium relative to its peers' average historical valuations, despite a fair valuation indicated by a Price to Book Value of 1.4. The company's Return on Equity (ROE) stands at 7.6, which is considered weak for long-term fundamentals.
In the broader market context, the stock's short-term performance has been notably worse than the benchmark, with a 1-week return of -6.30% compared to the Sensex's decline of only 0.47%. This underperformance is compounded by a significant drop in investor participation, as evidenced by a 48.66% decrease in delivery volume against the 5-day average. The stock's liquidity remains adequate for trading, but the overall sentiment appears negative due to flat financial results and reliance on non-operating income, which constitutes a large portion of profit before tax. Consequently, these factors contribute to a bearish outlook for Alankit Ltd in both the short and long term.