Why is Deepak Nitrite falling/rising?

As of 15-Sep, Deepak Nitrite Ltd. is experiencing a decline in its stock price, currently at Rs 1,746.00, which reflects a decrease of -3.65 or -0.21%. The stock has underperformed its sector today by -0.79% and has been on a downward trend for the last two days, accumulating a total loss of -0.29%. Additionally, the stock is close to its 52-week low, being only 0.76% away from Rs 1,732.7. Over the past month, the stock has seen a significant decline of -5.90%, and its year-to-date performance shows a staggering drop of -30.05%. While the company boasts a high return on equity (ROE) of 22.90% and a low debt-to-equity ratio of 0.04, its long-term growth prospects appear poor, with operating profit declining at an annual rate of -1.05% over the last five years. Recent negative financial results, including a -40.1% drop in profit before tax compared to the previous quarter average, have further contributed to the stock's downward movement.
In the broader market context, the stock's performance has been notably weaker than the benchmark, with a -40.48% return over the past year compared to a -1.33% decline in the Sensex. The stock has consistently underperformed against the benchmark over the last three years, which has likely influenced investor sentiment negatively. Despite high institutional holdings at 29.3%, indicating some confidence from larger investors, the overall market reaction has been cautious due to the company's recent financial struggles and high valuation compared to its peers. This combination of factors has led to a decline in investor participation, as evidenced by a significant drop in delivery volume, further exacerbating the stock's price decline.