Why is Century Enka falling/rising?

As of 23-Jul, Century Enka Ltd is experiencing a slight decline in its stock price, currently at 528.40, reflecting a change of -0.35 (-0.07%). The stock has underperformed its sector by 1.26% today and has shown a trend reversal after two consecutive days of gains. Despite a positive performance over the past week and month, with returns of +2.11% and +5.76% respectively, the stock has struggled year-to-date with a decline of -15.67%. Key negative factors contributing to this decline include a significant drop in PAT and net sales in the most recent quarter, alongside a low return on equity of 4.7, which suggests an expensive valuation relative to its fundamentals. Additionally, falling participation from institutional investors, who have reduced their stake, may also be impacting investor confidence.
In the broader market context, while Century Enka has shown some resilience in the short term compared to the benchmark Sensex, which has only gained +0.11% over the past week, its long-term performance remains concerning. The stock has consistently underperformed against the benchmark over the last three years, with a total return of -2.76% in the past year compared to the Sensex's +2.86%. This consistent underperformance, coupled with a lack of significant growth in net sales and operating profit, may be leading investors to reassess their positions, contributing to the stock's current downward movement.