Why is Alankit falling/rising?

As of 17-Oct, Alankit Ltd's stock price is currently at Rs. 11.61, reflecting a decline of Rs. 0.27 or 2.27%. The stock has recently hit a new 52-week low of Rs. 11.45 and has been underperforming its sector by 2.23%. Over the past two days, the stock has experienced a consecutive fall, resulting in a total decline of 5.22%. In terms of performance against benchmarks, Alankit has shown significant underperformance, with returns of -8.29% over the past week and -14.70% over the past month, while the Sensex has gained 1.76% and 1.52%, respectively. Additionally, the stock is trading below all moving averages, indicating a bearish trend. Although there has been a notable increase in investor participation, with delivery volume rising by 177.67% against the 5-day average, the overall sentiment remains negative.
Broader Market Context: The broader market context shows that while the Sensex has been performing positively, Alankit Ltd has struggled significantly, with a year-to-date decline of 46.94% compared to the Sensex's gain of 7.44%. This stark contrast highlights the stock's ongoing challenges and lack of investor confidence, despite some increase in trading activity. The liquidity of the stock remains adequate for trading, but the overall market sentiment and the company's poor performance relative to the benchmark suggest that the downward trend is likely to continue unless there are significant changes in the company's outlook or market conditions.