Why is Bhagiradha Chem. falling/rising?

As of 06-Nov, Bhagiradha Chemicals & Industries Ltd is experiencing a decline in its stock price, currently at Rs 241.00, reflecting a decrease of 6.15 points or 2.49%. The stock has underperformed its sector by 2.13% today and has been on a downward trend for the last two days, with a total decline of 2.76%. Despite opening with a gain of 3.18% and reaching an intraday high of Rs 259.8, the stock's performance has been volatile, with significant trading volume concentrated near its low price. Over the past week, the stock has decreased by 3.46%, and its year-to-date performance shows a substantial decline of 19.28%. The company has reported negative results for the last three consecutive quarters, with a significant drop in profit after tax and operating cash flow, contributing to its weak performance.
In the broader market context, the stock has underperformed compared to the benchmark index, with a one-year return of -31.48% against the Sensex's gain of 3.65%. This stark contrast highlights the challenges faced by Bhagiradha Chemicals, including a low return on equity and a high price-to-book ratio, which suggests an expensive valuation relative to its peers. Additionally, the lack of investment from domestic mutual funds indicates a lack of confidence in the company's prospects. While the company has shown strong long-term growth potential in operating profit, the recent financial struggles and negative investor sentiment have led to its current price decline.