Why is Deepak Nitrite falling/rising?

As of 01-Sep, Deepak Nitrite Ltd. is experiencing a decline in its stock price, currently at 1,788.15, which reflects a decrease of 5.55 or 0.31%. The stock has recently hit a new 52-week low of Rs.1770 and has underperformed its sector by 1.11%. Over the last three days, the stock has consistently fallen, resulting in a total decline of 2.88%. In terms of returns, the stock has shown a negative performance of 2.29% over the past week and 1.75% over the past month, while its year-to-date return is significantly negative at -28.36%. The company has high management efficiency with a return on equity (ROE) of 22.90% and a low debt-to-equity ratio of 0.04, but these positives are overshadowed by poor long-term growth, as indicated by an annual operating profit decline of 1.05% over the last five years. Additionally, the stock's valuation appears expensive with a price-to-book value of 4.5, and it has generated a return of -38.52% over the past year, alongside a profit decline of 24.7%.
In the broader market context, the stock's recent performance has been worse than the benchmark, with the Sensex showing a decline of only 1.56% over the past week and a modest -0.29% over the past month. This consistent underperformance against the benchmark is evident over the last three years, where Deepak Nitrite has lagged significantly, generating -38.52% returns compared to the Sensex's -2.43%. The stock's liquidity remains adequate for trading, but the negative sentiment surrounding its financial performance and valuation metrics suggests that investors are cautious, contributing to the stock's downward trend.