Why is Carborundum Uni. falling/rising?

As of 26-Sep, Carborundum Universal Ltd is experiencing a decline in its stock price, currently at 919.30, which reflects a decrease of 30.3 points or 3.19%. The stock has been on a downward trend, losing value for the last three consecutive days and showing a total decline of 6.06% during this period. It has also underperformed in the short term, with a 1-week return of -4.23% compared to a -2.66% decline in the Sensex. The stock is trading below its moving averages across various time frames, indicating weakness. Additionally, the company has reported negative financial results, including a significant drop in net profit and a decrease in promoter confidence, as they have reduced their stake in the company.
In the broader market context, Carborundum Universal Ltd's recent performance contrasts with the benchmark, as it has underperformed the Sensex over the past week. The sector, specifically abrasives, has also seen a decline of 3.03%, contributing to the stock's negative momentum. The company's poor long-term growth prospects, highlighted by a low return on capital employed and a high price-to-book ratio, further exacerbate investor concerns. With a substantial drop in delivery volume and a lack of investor participation, the stock's liquidity remains adequate but does not reflect strong market confidence. Overall, the combination of negative financial results, declining promoter confidence, and sector-wide weakness has led to the stock's recent decline.