Why is Carborundum Uni. falling/rising?

As of 08-Aug, Carborundum Universal Ltd's stock price is currently at Rs 841.95, reflecting a decrease of Rs 12.65 or 1.48%. The stock has been on a downward trend, losing value for the last seven days and experiencing a total decline of 11.42% during this period. It is also trading close to its 52-week low, just 3.79% above the low of Rs 810. The stock's performance over the past week shows a significant drop of 9.12%, while the one-month return is down 15.21%. The company has reported negative results for the last two consecutive quarters, with a net profit decline of 15.43% and a return on capital employed (ROCE) at its lowest. Additionally, the promoters have reduced their stake in the company, indicating a lack of confidence in its future prospects.
In the broader market context, Carborundum Universal Ltd's performance has significantly lagged behind the benchmark Sensex, which has shown a modest increase of 2.20% year-to-date, while the stock has plummeted by 34.25% in the same timeframe. This stark contrast highlights the stock's underperformance relative to the market. The company's weak financial indicators, including low operating profit margins and a high price-to-book ratio, further contribute to its declining stock price. Despite a recent increase in investor participation, the overall sentiment remains negative due to poor long-term growth prospects and recent financial results, leading to a perception of the stock as a strong sell.