Why is I G Petrochems falling/rising?

As of 12-Aug, I G Petrochemicals Ltd is experiencing a decline in its stock price, currently at 424.00, which represents a decrease of 37.15 or 8.06%. The stock has underperformed its sector by 7.24% today and has been on a downward trend, losing 8.85% over the last two days. It opened with a loss of 4.59% and reached an intraday low of Rs 421.65. The stock has shown poor performance over the past week and month, with returns of -9.47% and -9.55%, respectively, and a significant year-to-date decline of 24.02%. Additionally, the company has reported a low delivery volume, which has fallen by 39.19% against the five-day average, indicating reduced investor interest. Despite a high dividend yield of 4.1%, the stock's overall performance is hindered by a low debt-to-equity ratio and a very attractive valuation, which are overshadowed by poor long-term growth prospects.
In the broader market context, the stock's performance has significantly lagged behind the benchmark, with a one-year return of -32.49% compared to the Sensex's gain of 0.74%. This stark contrast highlights the stock's struggles, particularly in light of the negative results reported in June, including a 147.8% fall in PAT and a decline in net sales. The company's operating profit has also decreased at an annual rate of -12.79% over the last five years, further contributing to investor skepticism. The lack of domestic mutual fund investment, which stands at 0%, suggests that institutional investors may not be confident in the stock's current valuation or business outlook, reinforcing the negative sentiment surrounding I G Petrochemicals Ltd.