Why is Elegant Marbles falling/rising?

As of 24-Jul, Elegant Marbles and Grani Industries Ltd is experiencing a decline in its stock price, currently at Rs 232.45, which reflects a decrease of Rs 8.55 or 3.55%. The stock has underperformed its sector by 1.37% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 5.04%. It opened with a loss of 2.28% and reached an intraday low of Rs 231.05. Over the past week, the stock has decreased by 3.45%, and its performance over the last month shows a decline of 7.02%. Despite a notable increase in delivery volume, indicating rising investor participation, the stock is trading below its moving averages across various time frames, which suggests a bearish trend. The company's fundamentals are concerning, with operating losses and a weak ability to service debt, reflected in a poor EBIT to Interest ratio of 1.70. Additionally, while the stock has generated a negative return of 12.30% over the past year, its profits have only marginally increased by 1.7%, contributing to a high PEG ratio of 8.3.
In the broader market context, the stock's performance has significantly lagged behind the benchmark, with the Sensex showing a slight increase of 0.16% over the past month, while Elegant Marbles has dropped 7.02%. This underperformance is further highlighted by its year-to-date return of -11.33% compared to the Sensex's gain of 5.18%. The overall market has been more favorable, as evidenced by the BSE500 generating positive returns of 0.99% over the last year, while Elegant Marbles has struggled with a substantial negative return. This disparity indicates that investor sentiment towards Elegant Marbles is weak, compounded by its recent operational challenges and lack of strong long-term fundamentals.