Why is Eimco Elecon(I) falling/rising?

As of 24-Sep, Eimco Elecon (India) Ltd is experiencing a significant decline in its stock price, currently at 1,732.45, reflecting a decrease of 291.05 or 14.38%. The stock has underperformed its sector by 13.09% today and has been on a consecutive downward trend for the last six days, resulting in a total drop of 24.71% during this period. It opened with a loss of 7.88% and reached an intraday low of Rs 1690.1, indicating high volatility with an intraday fluctuation of 8.77%. Over the past week, the stock has seen a return of -21.61%, significantly worse than the Sensex's decline of only 1.18%. The company's low return on equity of 4.92% and flat results in June, where profit before tax fell by 12.7%, contribute to the negative sentiment surrounding the stock.
Broader Market Context: In the context of the broader market, Eimco Elecon's performance has been notably poor, with a year-to-date decline of 15.49%, while the Sensex has gained 4.58% during the same period. The stock's substantial underperformance over the last year, with a drop of 36.77% compared to the Sensex's decline of only 3.77%, highlights a lack of investor confidence, further exacerbated by the fact that domestic mutual funds hold no stake in the company. This lack of institutional interest may indicate a broader skepticism regarding the company's management efficiency and profitability, which are critical factors influencing its current stock price movement.