Why is Chandrima Mercan falling/rising?

As of 23-Jun, Chandrima Mercantiles Ltd's stock price is currently at Rs 45.60, reflecting a decrease of Rs 2.4 or 5.0%. The stock has underperformed its sector by 5.53% today, opening with a significant loss of 4.88%. It reached an intraday low of Rs 45.60, and the weighted average price indicates that more volume was traded closer to this low price. The stock has shown erratic trading patterns, not trading on 2 out of the last 20 days. Additionally, the company has reported operating losses, with a PAT of Rs -0.99 crore, which has fallen by 214.5% compared to the previous four-quarter average. This weak financial performance, combined with a very expensive valuation relative to its peers, contributes to the stock's downward movement.
In the broader market context, the stock has declined by 5.88% over the past week, while the Sensex has seen a slight increase of 0.12%. Year-to-date, Chandrima Mercantiles Ltd has experienced a significant drop of 45.95%, contrasting sharply with the Sensex's gain of 4.81%. This stark difference highlights the stock's struggles in comparison to the overall market performance. The majority shareholders being non-institutional adds to the volatility, and the company's weak long-term fundamental strength further exacerbates investor concerns, leading to the stock's current decline.