Why is Essen Speciality falling/rising?

As of 06-Oct, Essen Speciality Films Ltd is experiencing a decline in its stock price, currently at Rs. 263.85, which represents a decrease of Rs. 12.05 or 4.37%. The stock has hit a new 52-week low of Rs. 262.1 today and has significantly underperformed its sector by 3.66%. Over the past week, the stock has dropped by 9.55%, and its year-to-date performance shows a staggering decline of 61.18%. Additionally, the company's operating profit has decreased at an annual rate of 14.11% over the last five years, and recent financial results indicate a substantial drop in profit before tax and profit after tax, further contributing to investor concerns. Despite a low debt-to-equity ratio, the stock's valuation appears expensive compared to its peers, with a price-to-book value of 4.3, which may deter potential investors.
In the broader market context, while Essen Speciality Films Ltd has seen a significant decline, the benchmark Sensex has gained 1.80% over the past week. This stark contrast highlights the stock's underperformance relative to the market. The stock's negative returns over various periods, including a 32.36% decline over the past year, indicate a lack of confidence among investors, as evidenced by the absence of domestic mutual fund holdings. The overall sentiment surrounding the company appears to be negative, compounded by its poor long-term growth prospects and recent financial results, which have led to a perception of it being a strong sell.