Why is Grindwell Norton falling/rising?

As of 04-Jul, Grindwell Norton Ltd. is experiencing a decline in its stock price, currently at Rs 1,739.60, which reflects a decrease of Rs 38.15 or 2.15%. Today, the stock opened with a gain of 2.38% and reached an intraday high of Rs 1,820 before falling to a low of Rs 1,729.7. Despite the initial upward movement, the stock has underperformed its sector by 1.7% today, and the weighted average price indicates that more volume was traded closer to the low price. Over the past week, the stock has shown a modest gain of 2.51%, but it has underperformed significantly over the longer term, with a year-to-date decline of 9.55% and a staggering 41.00% drop over the past year. The company has high management efficiency with a return on equity (ROE) of 18.29% and low debt to equity, but these positives are overshadowed by poor long-term growth and a very expensive valuation relative to its peers.
In the broader market context, Grindwell Norton’s recent performance contrasts with the Sensex, which has gained 3.01% over the past month. The stock's recent decline can be attributed to falling investor participation, as evidenced by a significant drop in delivery volume, which has decreased by 71.27% against the five-day average. Additionally, the company has reported flat results and a low return on capital employed (ROCE), which has contributed to its underperformance compared to the broader market. Overall, while the stock has some positive attributes, its poor long-term growth prospects and recent price movements indicate a challenging environment for investors.