Why is Amarjothi Spg. falling/rising?

As of 24-Sep, Amarjothi Spinning Mills Ltd is experiencing a decline in its stock price, currently at Rs 157.95, which reflects a decrease of Rs 3.05 or 1.89%. The stock has underperformed its sector by 1.46% today and has been on a consecutive downward trend for the last three days, resulting in a total decline of 2.47% during this period. The stock reached an intraday low of Rs 153.3, indicating a significant drop of 4.78%. Additionally, the stock's performance over the past year shows a substantial decline of 27.89%, with profits falling by 5.7%. Despite having a relatively attractive valuation with a ROCE of 9.5 and trading at a discount compared to peers, the stock's long-term fundamentals are weak, which contributes to its recent price movement.
In the broader market context, the stock's short-term performance has lagged behind the benchmark, with a 5.42% decline over the past week compared to a 1.18% drop in the Sensex. While the stock has shown a slight increase of 0.38% over the past month, it has consistently underperformed against the benchmark indices over the last three years, which is indicative of its ongoing struggles. The significant drop in delivery volume, which fell by 75.98% against the 5-day average, further suggests a lack of investor confidence, contributing to the stock's downward trajectory. Overall, the combination of weak financial results, poor long-term growth prospects, and declining investor participation are key factors driving the stock's recent decline.