Why is Azad Engineering falling/rising?

As of 12-Aug, Azad Engineering Ltd's stock price is currently at 1,469.10, reflecting a decline of 17.75 points or 1.19%. The stock has been underperforming, having lost 7.33% over the last four days and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock has shown a significant decline in investor participation, with delivery volume dropping by 69.6% compared to the 5-day average. Despite the company reporting positive results for the last six consecutive quarters and a healthy growth rate in net sales, the stock's valuation appears expensive with a Price to Book Value of 6.8, and a low return on equity of 6.3. Furthermore, the reduction in promoter stake by 4.9% indicates a potential lack of confidence in the company's future.
In the broader market context, Azad Engineering's performance has been notably weaker than the benchmark, with a 1-week return of -5.75% compared to the Sensex's -0.59%. Over the past year, the stock has generated a return of -11.49%, while the Sensex has increased by 0.74%. This consistent underperformance against the benchmark over the last three years suggests that investors may be losing confidence in the stock's ability to deliver returns, further contributing to its recent price decline.