Why is Deepak Nitrite falling/rising?

As of 02-Sep, Deepak Nitrite Ltd. is experiencing a decline in its stock price, currently at Rs. 1,759.75, reflecting a decrease of Rs. 28.4 or 1.59%. The stock has hit a new 52-week low of Rs. 1,755 today and has underperformed its sector by 1.68%. Over the past four days, the stock has consistently fallen, resulting in a total decline of 4.42%. Additionally, the stock's performance over various periods shows a significant downturn, with a year-to-date drop of 29.50% and a one-year decline of 39.52%. Despite high management efficiency and low debt levels, the company's poor long-term growth, as indicated by a negative annual operating profit growth rate and disappointing recent financial results, has contributed to the stock's downward trend.
In the broader market context, Deepak Nitrite's short-term performance has been notably worse than the benchmark Sensex, which has only declined by 0.78% over the same one-week period. The stock's negative returns over the past year and three years further highlight its underperformance compared to the BSE500 index. While there has been a rise in investor participation, as evidenced by a significant increase in delivery volume, the overall sentiment remains bearish due to the company's expensive valuation and declining profitability. This combination of factors has led to a lack of confidence among investors, resulting in the stock's continued decline.