Why is Deepak Nitrite falling/rising?

As of 08-Sep, Deepak Nitrite Ltd. is experiencing a decline in its stock price, currently at Rs. 1,745.30, which reflects a decrease of Rs. 6.7 or 0.38%. The stock has hit a new 52-week low of Rs. 1,742.45 today and has underperformed its sector by 0.89%. Over the past week, the stock has decreased by 2.40%, and it has shown a significant decline of 30.08% year-to-date. The company's performance has been further impacted by a falling investor participation, with delivery volume dropping by nearly 60% against the five-day average. Additionally, the stock is trading below its moving averages across various time frames, indicating a bearish trend. Despite having a high return on equity (ROE) of 22.90% and a low debt-to-equity ratio, the company has faced poor long-term growth, with operating profit declining at an annual rate of 1.05% over the last five years.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark Sensex, which has gained 0.53% over the past week and 3.39% year-to-date. This underperformance is indicative of broader challenges faced by Deepak Nitrite, as it has generated a return of -40.62% over the past year, while the Sensex has only slightly declined by 0.49%. The company's negative results, including a significant drop in profit before tax and profit after tax in the latest quarter, coupled with an expensive valuation compared to peers, contribute to the prevailing sentiment that the stock is a strong sell. Overall, the combination of poor recent performance, declining investor interest, and unfavorable financial metrics has led to the stock's downward trajectory.