Why is Gravita India falling/rising?

As of 25-Sep, Gravita India Ltd is experiencing a decline in its stock price, currently at Rs 1,596.45, which reflects a decrease of Rs 44.8 or 2.73%. The stock has underperformed its sector by 5.8% today and has been on a consecutive downward trend for the last three days, resulting in a total decline of 4.45% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past year, Gravita India has generated a return of -36.88%, significantly underperforming the benchmark Sensex, which has only fallen by 4.71%. Despite positive financial indicators such as a high return on capital employed (ROCE) of 20.88% and consistent profit growth, the stock's recent performance is overshadowed by a decrease in promoter confidence, with a 3.39% reduction in their stake.
In the broader market context, the stock's short-term performance has been notably poor compared to the benchmark, as it has fallen 5.11% over the past week while the Sensex has only declined by 2.23%. This stark contrast highlights the stock's struggles relative to the overall market. Furthermore, the recent drop in investor participation, with a notable decrease in delivery volume, suggests waning interest among investors. While the company has shown strong operational growth and maintains a fair valuation compared to its peers, the combination of declining promoter confidence and significant underperformance relative to the market has contributed to the stock's downward trajectory.