Why is Heranba Inds falling/rising?

As of 22-Sep, Heranba Industries Ltd is experiencing a decline in its stock price, currently at 317.50, which reflects a decrease of 3.8 or 1.18%. The stock has been underperforming, having fallen consecutively for the last two days with a total return of -2.01% in that period. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the stock has shown significant underperformance over various time frames, including a -13.91% return over the past month and a staggering -35.14% over the last year. The company has also reported negative results for the last three consecutive quarters, with a notable decline in operating profit and a low return on capital employed (ROCE) of 3.6, which contributes to its expensive valuation compared to peers.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark, as the Sensex has gained 0.46% over the past week and 1.05% over the last month. This highlights the stock's consistent underperformance against the benchmark over the last three years, where it has generated negative returns while the broader market has seen positive growth. The lack of investor participation, evidenced by a 19.43% drop in delivery volume, further indicates a lack of confidence in the stock, which is compounded by the fact that domestic mutual funds hold no stake in the company, suggesting they may not be comfortable with its current valuation or business outlook.