Why is Fineotex Chem falling/rising?

As of 04-Nov, Fineotex Chemical Ltd is experiencing a decline in its stock price, currently at Rs 28.99, which reflects a decrease of 3.08 (-9.6%). Today's price summary indicates that the stock has underperformed its sector by 7.88% and opened with a significant loss of 6.77%. After two consecutive days of gains, the stock has reversed its trend, reaching an intraday low of Rs 28.43, a drop of 11.35%. Despite trading above its moving averages, the company has reported negative results for the last three consecutive quarters, with a notable decline in profit before tax and profit after tax compared to previous averages. Additionally, the stock's valuation appears expensive relative to its peers, and there has been a decrease in institutional investor participation, which may contribute to the stock's recent downward movement.
In the broader market context, Fineotex Chemical Ltd has shown a positive return of 13.51% over the past week, contrasting with a decline of 1.38% in the Sensex during the same period. However, the stock has underperformed the benchmark over the last year, generating a return of -20.94% compared to the Sensex's gain of 5.94%. This consistent underperformance over the last three years, coupled with falling institutional interest, suggests that while there may be short-term fluctuations, the overall sentiment towards Fineotex Chemical Ltd remains negative in comparison to the broader market.