Why is Fineotex Chem falling/rising?

As of 06-Nov, Fineotex Chemical Ltd's stock price is currently at Rs 25.42, reflecting a decline of 3.57 (-12.31%). The stock has been underperforming, having fallen for the last two consecutive days, resulting in a total drop of 20.74% during this period. Today's trading saw the stock reach an intraday low of Rs 25.02, indicating high volatility with an intraday fluctuation of 10.12%. Despite a healthy long-term growth rate in operating profit and a high return on equity, the company has reported negative results for the last three consecutive quarters, leading to a decline in both profit before tax and profit after tax. Additionally, the stock's valuation appears expensive relative to its peers, contributing to its recent price drop.
In the broader market context, Fineotex Chemical Ltd has shown a short-term return of +2.21% over the past week, which contrasts with the Sensex's decline of -1.30% during the same period. However, the stock has significantly underperformed the benchmark over the past year, with a return of -32.62% compared to the Sensex's gain of +3.65%. The decrease in institutional investor participation, which has fallen by 1.7%, further indicates a lack of confidence in the stock's future performance, reinforcing the downward pressure on its price.