Why is Grindwell Norton falling/rising?

As of 13-Aug, Grindwell Norton Ltd. is experiencing a decline in its stock price, currently at 1,472.65, which reflects a decrease of 12.35 points or 0.83%. The stock has underperformed its sector by 0.32% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 1.13% during this period. Over the past week, the stock has decreased by 0.98%, and it has shown a significant drop of 14.33% over the past month. The company's performance metrics indicate that it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 35.35% compared to the 5-day average. Despite having a high return on equity (ROE) of 18.29% and low debt levels, the company's long-term growth prospects appear poor, with net sales growing at an annual rate of only 14.94% over the past five years.
In the broader market context, Grindwell Norton has underperformed against the Sensex, which has shown a minimal decline of 0.01% over the past week. The stock's year-to-date performance is particularly concerning, with a drop of 23.43% compared to the Sensex's gain of 3.07%. This underperformance is compounded by flat results reported in June, including a decrease in profit before tax and a low return on capital employed. The stock's valuation appears expensive relative to its fundamentals, with a price-to-book value of 7.3, and it has generated a return of -38.78% over the past year while profits have declined by 2.7%. Overall, the combination of poor recent performance, declining investor interest, and unfavorable financial metrics contributes to the stock's downward trajectory.