Why is Grindwell Norton falling/rising?

As of 28-Oct, Grindwell Norton Ltd. is experiencing a decline in its stock price, currently at 1,554.75, which reflects a decrease of 31.3 points or 1.97%. The stock has been underperforming, having lost 6.53% over the past week and 25.48% over the last year, while also showing a consistent downward trend with four consecutive days of losses. Today's performance indicates that the stock has underperformed its sector by 0.92%, and it reached an intraday low of Rs 1544. The stock is trading below all key moving averages, suggesting a bearish trend. Despite a significant increase in delivery volume, indicating rising investor participation, the overall sentiment remains negative due to poor long-term growth prospects and a high valuation relative to its earnings.
In the broader market context, Grindwell Norton has significantly underperformed against the benchmark, with a year-to-date return of -19.16% compared to the Sensex's gain of 8.30%. This consistent underperformance over the last three years has contributed to a lack of investor confidence. While the company boasts high management efficiency and low debt levels, these positive factors are overshadowed by flat sales growth and declining profits, which have fallen by 2.7% over the past year. The stock's high price-to-book value and poor long-term growth prospects further exacerbate the situation, leading to a negative outlook among investors.