Why is Gamco Ltd falling/rising?

As of 24-Sep, Gamco Ltd's stock price is currently at Rs 46.00, reflecting a decline of Rs 2.44 or 5.04%. The stock has been underperforming, having lost 6.39% over the last two days, and it touched an intraday low of Rs 45.5. In terms of performance, the stock has shown a positive return of 8.59% over the past week and 18.28% over the past month, but it has significantly underperformed in the year-to-date with a decline of 62.39%. The company has faced negative results for the last three consecutive quarters, with net sales and profit after tax both declining by 32.66%. Despite a healthy long-term growth rate in operating profit and rising promoter confidence with a 0.74% increase in stake, the low return on capital employed (ROCE) of 6.88% and the stock's expensive valuation relative to its peers contribute to its recent downward movement.
Broader market context indicates that while the broader Sensex has experienced a slight decline of 1.18% over the past week, Gamco Ltd's short-term performance has been more favorable, outperforming the benchmark during that period. However, the stock's year-long performance shows a stark contrast, with a significant drop of 55.14% compared to the market's decline of only 3.77%. This underperformance highlights the challenges Gamco Ltd faces, particularly in management efficiency and profitability, which have led to a lack of investor confidence despite some positive indicators in terms of promoter participation and short-term returns.