Why is Hindcon Chemical falling/rising?

As of 17-Sep, Hindcon Chemicals Ltd is currently priced at 32.25, reflecting a slight increase of 0.04 or 0.12%. The stock has underperformed its sector today by 0.87%, and while it is higher than its 5-day moving average, it remains below the 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has decreased by 1.29%, and it has shown a significant decline of 27.76% year-to-date. The company's operating profit has been declining at an annual rate of 6.02% over the last five years, and its profits have fallen by 22.6% in the past year, contributing to a negative sentiment around the stock. Additionally, the delivery volume has decreased by 24.94% compared to the 5-day average, indicating falling investor participation.
In the broader market context, the stock's performance has been notably weaker than the benchmark, with a one-year return of -36.78% compared to the BSE500's decline of only 2.63%. This stark contrast highlights the stock's underperformance relative to the market. Despite the company's low debt-to-equity ratio and majority ownership by promoters, the high valuation indicated by a Price to Book Value of 3.1 and a low return on equity of 7.2 suggest that the stock is trading at a premium compared to its peers. These factors, combined with the flat results reported in June and the overall negative growth trajectory, contribute to the stock's continued decline in investor confidence and market performance.