Why is Carborundum Uni. falling/rising?

As of 06-Aug, Carborundum Universal Ltd is experiencing a decline in its stock price, currently at Rs 887.00, which reflects a decrease of Rs 18.4 or 2.03%. The stock has been on a downward trend, having fallen consecutively for the last five days, resulting in a total return of -6.68% over the past week. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite outperforming its sector by 0.44% today, the stock's performance has been poor over the longer term, with a staggering -45.66% return over the past year. The company's recent financial results have also been concerning, with a significant drop in profit after tax and a low return on capital employed, which contribute to a negative outlook.
In the broader market context, Carborundum Universal Ltd's short-term performance has been notably worse than the benchmark, with a -6.68% return over the past week compared to the Sensex's -1.15%. This underperformance is compounded by the company's declining promoter confidence, as they have reduced their stake in the company, which may signal a lack of faith in its future prospects. The company's low debt-to-equity ratio and trading at a discount compared to peers do not offset the negative sentiment surrounding its long-term growth potential, which has been hindered by stagnant sales growth and declining profits. Overall, the combination of poor financial performance, reduced promoter confidence, and significant underperformance relative to the market has led to the stock's current decline.