Why is Garware Tech falling/rising?

As of 23-Sep, Garware Technical Fibres Ltd's stock is currently priced at Rs 783.80, reflecting a decline of Rs 25.65 or 3.17%. The stock has underperformed its sector by 2.55% today and has experienced consecutive falls over the last two days, resulting in a 3.83% decrease over the past month. Key indicators show that the stock touched an intraday low of Rs 775.1 and has a weighted average price closer to this low, suggesting weak trading momentum. Despite a high management efficiency indicated by a return on equity (ROE) of 17.80% and low debt levels, the company faces challenges such as poor long-term growth, with net sales and operating profit growth rates of 12.47% and 17.20% respectively over the last five years. Additionally, the stock's valuation appears expensive with a price-to-book ratio of 6.3, contributing to its recent price decline.
In the broader market context, the stock has underperformed against the benchmark Sensex, which has gained 0.98% over the past month while Garware Technical Fibres Ltd has lost 3.83%. Over the last year, the stock has generated a return of -5.50%, contrasting with the Sensex's decline of only 3.33%. This consistent underperformance against the benchmark over the last three years, coupled with flat results in recent quarters, indicates a lack of investor confidence and suggests that the stock's recent price movement is influenced by both its internal financial challenges and its inability to keep pace with market trends.