Why is Anik Industries falling/rising?

As of 24-Jul, Anik Industries Ltd is experiencing a decline in its stock price, currently at 98.30, which reflects a decrease of 0.75 or 0.76%. The stock has been underperforming recently, having fallen consecutively for the last two days, resulting in a total drop of 1.21%. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 89.68% compared to the 5-day average. Despite positive financial results over the last three quarters, including higher net sales and profit after tax, the company's long-term fundamentals are weak, with a -25.25% CAGR growth in net sales over the past five years and a low return on equity of 1.21%, which may contribute to the stock's current downward movement.
In the broader market context, Anik Industries has underperformed relative to the benchmark, with a 1-week return of -2.96% compared to the Sensex's slight decline of 0.09%. While the stock has shown a strong performance over the past year with a return of 44.24%, this is juxtaposed against a backdrop of weak long-term fundamentals and high valuation metrics, which may deter investors. The stock's premium valuation compared to peers and the low profitability per unit of shareholders' funds further exacerbate concerns, leading to a cautious outlook among investors.