Why is Asian Energy falling/rising?

As of 17-Nov, Asian Energy Services Ltd is experiencing a decline in its stock price, currently at Rs 321.70, which reflects a decrease of Rs 7.95 or 2.41%. Today's price summary indicates that the stock opened lower, with a gap down of 2.31%, and reached an intraday low of Rs 319.9, marking a 2.96% drop. The stock has underperformed its sector by 2.66% today, and the trading volume has shown a decrease in investor participation, with a 5.86% drop in delivery volume compared to the 5-day average. Over the past week, the stock has declined by 1.27%, and its year-to-date performance shows a significant drop of 14.10%, while the stock's operating profit has decreased at an annual rate of 1.29% over the last five years, contributing to its poor long-term growth outlook.
In the broader market context, the stock has underperformed compared to the benchmark Sensex, which has gained 1.69% over the past week and 8.72% year-to-date. While the stock has generated a negative return of 7.02% over the past year, the market has seen a positive return of 8.59%, highlighting the stock's struggle in a rising market. Additionally, institutional investors have reduced their stakes by 1.24% in the last quarter, indicating a lack of confidence in the company's fundamentals, which may further pressure the stock's price. The stock's current valuation appears expensive with a price-to-book value of 3.3, despite trading at a discount compared to its peers, suggesting that investor sentiment remains cautious amid these challenges.