Why is Chemfab Alka. falling/rising?

As of 22-Aug, Chemfab Alkalis Ltd is experiencing a decline in its stock price, currently at Rs 688.95, which represents a decrease of Rs 13.45 or 1.91%. The stock has underperformed its sector by 2.6% today and has fallen after three consecutive days of gains. It reached an intraday high of Rs 720.05 but has shown a significant decline over the past month, with a return of -10.64%. The company has reported negative results for the last nine consecutive quarters, with a net profit decline of 61.71%, and its valuation appears expensive compared to peers, contributing to investor concerns. Despite a low debt-to-equity ratio and healthy long-term growth in operating profit, the stock's overall performance has been hindered by falling profits and a lack of confidence from domestic mutual funds, which hold only 0.25% of the company.
In the broader market context, the stock's performance over the past year has been notably poor, with a return of -24.20%, significantly underperforming the benchmark Sensex, which has only declined by 0.31% during the same period. While the stock has shown some resilience over a three-year period with a return of 168.28%, its recent trends indicate a lack of investor confidence, especially given the negative financial results and high valuation metrics. The stock's short-term performance, coupled with broader market conditions, suggests that investors are cautious, leading to the current downward price movement.