Why is Chembond Materi. falling/rising?

As of 11-Jul, Chembond Material Technologies Ltd is experiencing a decline in its stock price, currently at Rs 220.55, which represents a decrease of Rs 2.45 or 1.1%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 3.25% during this period. Despite opening with a gain of 3.14% today and reaching an intraday high of Rs 230, the stock is still close to its 52-week low, only 0.25% away. Over the past year, Chembond has generated a staggering return of -65.25%, significantly underperforming against the Sensex, which has gained 3.26% in the same timeframe. The company's net sales have also seen a sharp decline of 37.2% compared to the previous four-quarter average, contributing to the negative sentiment surrounding the stock.
In the broader market context, Chembond's recent performance reflects a stark contrast to the benchmark, as it has underperformed the BSE500 over various timeframes, including the last three years and one year. While the stock has a relatively low debt-to-equity ratio and an attractive valuation with a price-to-book value of 1.9, these positives are overshadowed by its significant profit decline of 30.6% and the reliance on non-operating income, which constitutes 38.39% of profit before tax. The stock's trading below all major moving averages further indicates a bearish trend, despite a recent increase in investor participation, suggesting that the overall market sentiment remains cautious regarding Chembond's future performance.