Why is Century Enka falling/rising?

As of 24-Jul, Century Enka Ltd is experiencing a decline in its stock price, currently at 526.50, which reflects a decrease of 1.9 or 0.36%. The stock has underperformed its sector by 0.38% today and has seen consecutive losses over the last two days, totaling a decline of 0.43%. While the stock has shown a positive return of 1.76% over the past week and 3.93% over the past month, it has significantly underperformed in the long term, with a year-to-date decline of 15.97% and a one-year return of -6.65%. The company has reported poor financial results, including a 66.2% drop in PAT for the most recent quarter and the lowest net sales figures, which contribute to a negative outlook. Additionally, a decrease in institutional investor participation and a low return on equity further exacerbate concerns regarding the stock's performance.
In the broader market context, the Sensex has shown a slight increase of 0.16% over the past month and a more substantial gain of 5.18% year-to-date, indicating that Century Enka's recent struggles are not reflective of the overall market trend. The stock's performance has consistently lagged behind the benchmark, with negative returns in each of the last three annual periods. This consistent underperformance, coupled with a high valuation relative to its earnings growth, suggests that investor sentiment is cautious, leading to the stock's current decline.