Why is Eastern Treads falling/rising?

As of 18-Sep, Eastern Treads Ltd's stock price is currently at Rs 30.00, reflecting a decline of Rs 1.74 or 5.48%. The stock has been underperforming, having fallen consecutively for the last two days with a total decrease of 6.25% during this period. It has also touched an intraday low of Rs 29, which represents a significant drop of 8.63%. In terms of performance against benchmarks, Eastern Treads has shown a negative trend over various periods, with a year-to-date decline of 21.03% compared to a 6.24% gain in the Sensex. Notably, the stock is trading below all its moving averages, indicating a bearish trend. While there has been a rise in investor participation, with delivery volume increasing by 377.32% against the five-day average, the overall sentiment remains negative.
Broader Market Context: In the context of the broader market, Eastern Treads' recent performance has been significantly weaker than the Sensex, which has gained 1.80% over the past week while Eastern Treads has declined by 3.19%. This underperformance is further highlighted by its year-long return of -34.05% compared to the Sensex's minimal gain of 0.08%. The stock's liquidity is adequate for trading, but the persistent decline and underperformance against the sector suggest a lack of confidence among investors, contributing to the downward pressure on the stock price.