Why is Carborundum Uni. falling/rising?

As of 12-Aug, Carborundum Universal Ltd's stock is currently priced at Rs 848.00, reflecting a decrease of Rs 4.0 or 0.47%. The stock has underperformed its sector today, with a performance that is 0.45% lower than its peers. It is also trading close to its 52-week low, being only 4.48% away from Rs 810. Over the past week, the stock has seen a decline of 6.34%, and it has significantly underperformed over the last month and year, with returns of -12.60% and -45.05%, respectively. The company has reported negative results for the last two consecutive quarters, with a notable drop in net profit of 15.43%, which has contributed to a lack of investor confidence, as evidenced by a decrease in promoter stake by 0.59%.
In the broader market context, the Sensex has shown a slight decline of 0.59% over the past week, indicating that the market is experiencing some downward pressure, but Carborundum's decline is more pronounced. The stock's long-term performance has been particularly poor, with a year-to-date return of -33.78%, contrasting sharply with the Sensex's gain of 2.68% during the same period. This stark difference highlights the challenges faced by Carborundum Universal Ltd, including low operating profit growth and a high price-to-book value ratio, which suggest that the stock is perceived as expensive relative to its earnings potential. Overall, the combination of poor financial results, reduced promoter confidence, and significant underperformance compared to the broader market contributes to the stock's downward movement.