Why is Carborundum Uni. falling/rising?

As of 07-Aug, Carborundum Universal Ltd is experiencing a decline in its stock price, currently at Rs 854.60, which reflects a decrease of Rs 31.15 or 3.52%. The stock has been underperforming, having lost 10.09% over the last six days, and it touched an intraday low of Rs 849.45. In terms of returns, the stock has fallen by 8.50% over the past week and 12.91% over the past month, significantly underperforming the Sensex, which has only decreased by 0.69% and 3.38% respectively. The company's recent financial performance has been poor, with a net profit decline of 15.43% and negative results reported for the last two consecutive quarters. Additionally, the promoters have reduced their stake in the company, indicating a lack of confidence in its future prospects.
In the broader market context, while the Sensex has shown resilience with a year-to-date increase of 3.18%, Carborundum Universal Ltd has faced a stark contrast with a year-to-date decline of 33.27%. This underperformance is compounded by the company's low return on capital employed (ROCE) and high price-to-book value ratio, suggesting an expensive valuation relative to its peers. The stock's liquidity remains adequate, but the overall sentiment is negative, as reflected in the significant drop in its stock price and the consistent downward trend in its performance metrics.