Why is Elegant Marbles falling/rising?

As of 21-Aug, Elegant Marbles and Grani Industries Ltd is currently priced at 226.50, reflecting a slight increase of 0.5 (0.22%). Despite this uptick, the stock has shown a negative trend over the past week, with a decline of 1.95%, and a more significant drop of 6.02% over the past month. Today's performance indicates that the stock has outperformed its sector by 0.41%, although it remains below its 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 79.07% compared to the 5-day average. The stock's return on equity (ROE) stands at 3.2, and while it is trading at a fair valuation with a price-to-book value of 0.6, it is still considered to be at a premium compared to its peers.
In the broader market context, the stock has underperformed significantly against the benchmark, with a year-to-date return of -13.60% compared to the Sensex's gain of 4.94%. Over the past year, while the market has seen a decline of only 1.56%, Elegant Marbles has experienced a much steeper drop of 12.35%. This underperformance highlights the company's weak long-term fundamental strength, as indicated by its average ROE of 2.82% and flat results in recent financial reports. Despite a slight increase in profits of 1.8% over the past year, the stock's overall negative returns suggest ongoing challenges that may be affecting investor confidence.