Why is Hikal falling/rising?

As of 20-Aug, Hikal Ltd's stock price is currently at Rs 258.65, reflecting a decrease of Rs 4.35 or 1.65%. The stock has recently underperformed its sector by 0.91% and has fallen after two consecutive days of gains. Despite opening with a gain of 2.26% and reaching an intraday high of Rs 268.95, it touched a low of Rs 257.6 during the day. Over the past week, the stock has shown a slight increase of 0.84%, but it has significantly underperformed over the longer term, with a 24.88% decline over the past month and a 33.64% drop year-to-date. The stock's poor performance is compounded by a decrease in investor participation, with delivery volume falling by 46.09% against the five-day average. Additionally, the company's operating profit has declined at an annual rate of 2.51% over the last five years, and its profits have fallen by 6.5% over the past year, contributing to a negative sentiment around the stock.
In the broader market context, Hikal's recent performance contrasts sharply with the benchmark Sensex, which has gained 1.64% over the past week and 4.76% year-to-date. The stock has consistently underperformed against the benchmark, generating a return of -19.44% in the last year compared to the Sensex's 1.31% increase. This consistent underperformance, coupled with the company's low return on capital employed and declining cash reserves, suggests a lack of confidence among investors. The stock is trading at a discount compared to its peers, but the overall negative financial indicators and the significant drop in investor participation indicate that market sentiment remains bearish.