Why is Gagan Gases falling/rising?

As of 03-Jul, Gagan Gases Ltd is experiencing a significant decline in its stock price, currently at Rs 19.00, reflecting a decrease of 3.55 (-15.74%). The stock has underperformed its sector by 15.06% today and has been on a downward trend for the past two days, with a total drop of 16.48%. The stock has also traded at a wide range, hitting an intraday low of Rs 19, and has shown high volatility with an intraday fluctuation of 8.52%. Over the past week, Gagan Gases has seen a return of -13.64%, while its performance over the last year has been particularly poor, with a decline of 27.95%. Despite declaring positive results for the last three consecutive quarters, the company's weak long-term fundamental strength and poor ability to service its debt have contributed to its negative stock movement.
In the broader market context, Gagan Gases has significantly underperformed compared to the benchmark index, with the Sensex showing a modest gain of 3.10% over the past month, while Gagan Gases has declined by 11.42%. This stark contrast highlights the stock's struggles, particularly as it has generated negative returns over the past year, while the market has seen a positive return of 2.20%. The company's weak return on equity of 8.7 and high price-to-book value ratio of 2.8 suggest that the stock is considered expensive relative to its peers, further discouraging investor interest. Overall, the combination of poor recent performance, high volatility, and weak fundamentals has led to a decline in Gagan Gases' stock price.