Why is Emkay Taps & Cut falling/rising?

As of 17-Jul, Emkay Taps & Cutting Tools Ltd is experiencing a decline in its stock price, currently at Rs. 195.00, which reflects a decrease of Rs. 7.6 or 3.75%. The stock has hit a new 52-week low of Rs. 192.5 today and is underperforming its sector by 5.31%. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Over the past week, the stock has seen a significant drop of 18.55%, and its year-to-date performance shows a staggering decline of 57.61%. Although there has been a rise in investor participation, with delivery volume increasing by 90.88% against the 5-day average, the overall sentiment remains negative, and no positive factors are noted to counterbalance this trend.
Broader market context reveals that while the Sensex has shown a slight decline of only 0.96% over the past week, Emkay Taps & Cutting Tools Ltd's performance has been significantly worse, highlighting a stark contrast in performance. The stock's year-to-date return of -57.61% starkly contrasts with the Sensex's positive return of 6.20%, further emphasizing the challenges faced by the company. This underperformance relative to the benchmark suggests that investor sentiment is particularly weak for Emkay Taps & Cutting Tools Ltd, contributing to its declining stock price.