Why is Eveready Inds. falling/rising?

As of 30-Sep, Eveready Industries India Ltd is experiencing a decline in its stock price, currently at Rs 382.40, which reflects a decrease of Rs 12.1 or 3.07%. The stock has underperformed its sector by 3.15% today, hitting an intraday low of Rs 375.05, which is a drop of 4.93%. Over the past week, the stock has decreased by 8.02%, and over the past month, it has fallen by 9.00%. Despite showing high management efficiency with a return on capital employed (ROCE) of 18.23% and positive results for the last nine consecutive quarters, the stock's performance has been lackluster, with a year-to-date return of -2.60% and a one-year return of -16.73%. The significant drop in delivery volume by 58.98% against the five-day average indicates falling investor participation, which may contribute to the stock's downward movement.
In the broader market context, the Sensex has only decreased by 2.23% over the past week and has shown a positive return of 0.57% over the past month, contrasting with Eveready's poor performance. While the stock has generated a negative return over the past year, its profits have increased by 25.2%, suggesting that the decline may not be reflective of the company's underlying financial health. The stock is trading at a discount compared to its peers' average historical valuations, which could indicate potential for recovery if market sentiment improves. However, the current trend suggests that investor confidence is waning, contributing to the stock's recent decline.