Why is Grindwell Norton falling/rising?

As of 14-Aug, Grindwell Norton Ltd. is currently priced at 1,469.00, reflecting a decrease of 3.65, or 0.25%. The stock has been experiencing a downward trend, having fallen for the last three consecutive days, resulting in a total decline of 1.37% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. Despite a rise in delivery volume by 72.97% against the 5-day average, the stock's performance has been poor, with a year-to-date decline of 23.62% and a staggering 38.88% drop over the past year. Factors contributing to this decline include flat results in June 2025, a low return on capital employed (ROCE), and an expensive valuation relative to its peers, which has led to a perception of poor long-term growth.
In the broader market context, Grindwell Norton has underperformed significantly compared to the Sensex, which has shown a positive return of 3.15% year-to-date. The stock's performance over the last month and year has also been notably worse than the benchmark, with declines of 15.18% and 38.88%, respectively. This underperformance is compounded by the company's flat net sales growth and declining profits, which have raised concerns among investors. Although there is high institutional ownership, which typically indicates confidence in the company's fundamentals, the overall sentiment remains negative due to the poor financial results and high valuation metrics, leading to a cautious outlook for the stock.