Why is Fineotex Chem falling/rising?

As of 11-Aug, Fineotex Chemical Ltd is experiencing a decline in its stock price, currently at 232.75, which reflects a decrease of 2.65 or 1.13%. The stock has underperformed its sector by 2.17% today and has been on a consecutive downward trend for the last two days, with a total drop of 2.12% in that period. Over the past week, Fineotex has seen a significant decline of 7.79%, and its year-to-date performance shows a staggering drop of 29.74%. The company's recent financial results indicate negative trends, including a 43.6% fall in profit before tax and a 32.5% decline in profit after tax compared to previous quarters. Additionally, the stock's high price-to-book value ratio suggests it may be overvalued, contributing to its recent price drop.
In the broader market context, Fineotex's performance contrasts sharply with the Sensex, which has only declined by 0.51% over the past week. This underperformance is further highlighted by the stock's negative returns over various periods, including a 39.90% drop in the last year, while the Sensex has gained 1.13% in the same timeframe. The decrease in institutional investor participation, with a 0.86% reduction in their stake, indicates a lack of confidence in the company's future prospects, which may further pressure the stock price. Overall, the combination of poor financial results, high valuation concerns, and declining institutional interest has contributed to Fineotex Chemical Ltd's falling stock price.