Why is Dolphin Offshore falling/rising?

As of 23-Jun, Dolphin Offshore Enterprises (India) Ltd is experiencing a decline in its stock price, currently at Rs 353.50, which reflects a decrease of Rs 1.7 or 0.48%. The stock has been on a downward trend, losing 4.51% over the last three days and has underperformed significantly over the past week and month, with returns of -6.30% and -3.04%, respectively. The stock's performance is further highlighted by its substantial year-to-date decline of 38.84% and a staggering 51.89% drop over the past year. Despite the company showing strong growth in net sales and operating profit, the low return on capital employed (ROCE) of 4.32% and a high enterprise value to capital employed ratio indicate poor management efficiency and expensive valuation, which may contribute to investor hesitance.
In the broader market context, the stock has underperformed compared to the benchmark Sensex, which has shown positive returns of 0.12% over the past week and 4.81% year-to-date. The decline in institutional investor participation, with a reduction of 8.38% in their stake, suggests a lack of confidence in the stock's future performance, further exacerbating its downward trajectory. Additionally, the significant drop in delivery volume, which fell by 77.47% against the 5-day average, indicates a decrease in investor interest, contributing to the stock's current struggles in a market that is otherwise showing resilience.