Why is Hemang Resources falling/rising?

As of 20-Oct, Hemang Resources Ltd is experiencing a decline in its stock price, currently at Rs 21.16, which represents a decrease of 1.34 or 5.96%. The stock opened the day with a gain of 6.62%, reaching an intraday high of Rs 23.99, but subsequently fell to a low of Rs 21.12, indicating high volatility with an intraday fluctuation of 6.34%. Over the past week, the stock has underperformed its sector by 5.82%, and its year-to-date return stands at a significant decline of 31.28%, contrasting sharply with the Sensex's gain of 7.97%. Additionally, Hemang Resources is trading below its moving averages across multiple time frames, which suggests a bearish trend. Although there has been a rise in investor participation, with delivery volume increasing by 39.33% against the 5-day average, the overall sentiment remains negative.
Broader Market Context: In comparison to the benchmark, Hemang Resources has significantly underperformed, with a 1-week return of -7.15% against the Sensex's positive return of +2.47%. This trend of underperformance is evident over longer periods as well, with the stock down 31.72% over the past year while the Sensex has gained 3.86%. The broader market appears to be more favorable, contributing to the stock's struggles. The lack of positive factors in the dashboard further emphasizes the challenges Hemang Resources faces in regaining investor confidence amidst a generally improving market environment.