Why is Chembond Materi. falling/rising?

As of 24-Jun, Chembond Material Technologies Ltd's stock price is currently at Rs 225.90, reflecting an increase of Rs 1.9, or 0.85%. The stock has shown a trend reversal today, gaining after two consecutive days of decline, and it outperformed its sector by 0.45%. However, it remains close to its 52-week low, just 1.28% away from Rs 223. Over the past week, the stock has decreased by 7.19%, and it has significantly underperformed the market with a year-to-date decline of 62.05%. Despite a low debt-to-equity ratio and an attractive valuation indicated by a return on equity of 17.4 and a price-to-book value of 1.9, the stock's performance has been hampered by a substantial drop in profits and sales, with a 63.75% decline in returns over the past year.
In the broader market context, the Sensex has shown a modest increase of 0.58% over the past week, contrasting sharply with Chembond's significant decline. The stock's performance over the last year and beyond has been below par, with negative returns compared to the benchmark indices. The company's net sales have fallen by 37.2% in the latest quarter, contributing to a negative sentiment among investors, despite a recent increase in delivery volume indicating rising investor participation. Overall, while there are some positive indicators regarding valuation, the ongoing poor financial performance and significant underperformance relative to the market are likely contributing to the stock's volatility and recent movements.