Why is Carborundum Uni. falling/rising?

As of 14-Aug, Carborundum Universal Ltd's stock price is currently at Rs 850.40, reflecting a decline of Rs 23.8 or 2.72%. The stock has underperformed its sector, with a performance today that is down by 2.71%. It is trading 4.75% above its 52-week low of Rs 810 and has touched an intraday low of Rs 842.85, indicating significant downward pressure. Over the past week, the stock has decreased by 0.49%, and it has experienced a substantial decline of 14.03% over the past month. The company has reported negative financial results, including a 15.43% fall in net profit and a decrease in operating profit margins, which have contributed to a poor long-term growth outlook. Additionally, the promoters have reduced their stake in the company, signaling a lack of confidence in its future prospects.
In the broader market context, Carborundum Universal Ltd's recent performance contrasts sharply with the Sensex, which has only seen a slight decline of 0.03% over the past week. The stock's year-to-date performance is particularly concerning, with a drop of 33.59% compared to the Sensex's gain of 3.15%. This underperformance is compounded by a significant reduction in investor participation, as evidenced by a 66.74% drop in delivery volume against the 5-day average. Overall, the combination of disappointing financial results, declining promoter confidence, and poor relative performance to the benchmark has led to the stock's current downward trajectory.