Why is Anik Industries falling/rising?

As of 23-Jul, Anik Industries Ltd is experiencing a decline in its stock price, currently at 99.05, reflecting a decrease of 0.45 or 0.45%. The stock is trading below its moving averages across various timeframes, indicating a bearish trend. Additionally, there has been a significant drop in investor participation, with delivery volume falling by nearly 48% compared to the 5-day average. Despite the company reporting positive results over the last three quarters, including increased net sales and profit after tax, the long-term fundamentals appear weak, with a negative compound annual growth rate in net sales over the past five years and a low return on equity.
In the broader market context, Anik Industries has underperformed compared to the benchmark, with a 1-week return of -3.46% against a slight gain of 0.11% for the Sensex. While the stock has shown impressive performance over the past year with a return of 50.76%, this is contrasted by its recent struggles and a weak financial outlook, which may be contributing to investor caution. The stock's high valuation relative to its peers and low profitability metrics further complicate its market position, leading to a lack of confidence among investors despite its previous strong returns.