Why is Elegant Marbles falling/rising?

As of 12-Sep, Elegant Marbles and Grani Industries Ltd is experiencing a decline in its stock price, currently at Rs 222.00, reflecting a decrease of 1.0 (-0.45%). The stock has underperformed in the short term, with a 1-week return of -1.33% and a 1-month return of -4.62%. Today's trading activity shows that the stock has outperformed its sector by 0.26%, despite trading in a narrow range of Rs 1 and being below its moving averages across various timeframes. The company has a low return on equity (ROE) of 3.2 and is trading at a premium compared to its peers, which may contribute to investor caution. Additionally, the stock has seen a rise in delivery volume, indicating increased investor participation, but overall, the fundamentals appear weak with a significant decline in net sales over the past nine months.
In the broader market context, the stock has significantly underperformed compared to the benchmark, with the Sensex gaining 1.48% over the past week while Elegant Marbles has lost value. Over the last year, the stock's return of -15.02% starkly contrasts with the market's decline of only -1.28%, highlighting its struggles. The company's flat results and a negative growth trajectory in net sales further exacerbate investor concerns, suggesting a lack of confidence in its long-term growth potential. Overall, the combination of weak fundamentals, poor recent performance relative to the market, and high valuation compared to peers contributes to the stock's downward movement.