Why is Elantas Beck falling/rising?

As of 22-Sep, Elantas Beck India Ltd is experiencing a decline in its stock price, currently at 10,120.00, reflecting a decrease of 35.35 points or 0.35%. The stock has underperformed significantly in the short term, with a 1-week return of -4.28% and a 1-month return of -8.96%, while the Sensex has shown positive returns of 0.46% and 1.05% respectively during the same periods. Despite outperforming its sector by 0.48% today, the stock is trading below all its moving averages, indicating a bearish trend. The company has shown high management efficiency with a return on equity (ROE) of 16.20% and a low debt-to-equity ratio, but it has faced challenges such as flat results in June and a significant portion of profit coming from non-operating income, which raises concerns about sustainability.
In the broader market context, Elantas Beck's performance has been notably weaker than the benchmark, with a year-to-date return of -20.94% compared to the Sensex's positive 5.15%. The stock's decline is exacerbated by its negative returns over the past year, which stand at -16.20%, significantly worse than the BSE500's decline of -3.80%. This underperformance, coupled with a high valuation indicated by an 8.6 price-to-book ratio, suggests that investors may be cautious about the stock's future prospects, especially given the recent drop in profits by 11.7%. Overall, the combination of poor short-term performance, high valuation concerns, and reliance on non-operating income contributes to the stock's current downward trajectory.