Why is Graphite India falling/rising?

As of 10-Nov, Graphite India Ltd. is experiencing a decline in its stock price, currently at Rs 538.30, which reflects a decrease of Rs 39.8 or 6.88%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total decline of 15.37% during this period. Today's trading saw the stock reach an intraday low of Rs 519.15, indicating high volatility with an intraday fluctuation of 8.08%. Additionally, the stock has underperformed its sector by 3.11%, and its returns over the past week and month are -12.97% and -4.52%, respectively, contrasting with the Sensex's minor decline of 0.53% and gain of 1.25% over the same periods. The company's financial performance has also raised concerns, with a significant drop in profit before tax and net profit reported in the latest quarterly results, contributing to a perception of poor long-term growth.
In the broader market context, while the Sensex has shown resilience with a positive return of 6.91% year-to-date, Graphite India has lagged behind with a decline of 4.47% in the same timeframe. The recent increase in institutional investor participation, which has risen by 1.1% to a total of 16.18%, suggests some confidence in the company's fundamentals, but this is overshadowed by the negative financial indicators and the company's low growth rate in net sales over the past five years. The stock's valuation appears expensive relative to its return on equity of 7.9 and a price-to-book value of 1.8, further complicating its appeal to investors amidst a backdrop of declining performance.