Why is IFB Industries falling/rising?

As of 31-Jul, IFB Industries Ltd is experiencing a decline in its stock price, currently at Rs 1,317.50, which reflects a decrease of Rs 53.1 or 3.87%. The stock has underperformed its sector today by 1.27%, touching an intraday low of Rs 1,310, marking a drop of 4.42%. Over the past week, the stock has fallen by 7.69%, and in the last month, it has decreased by 15.19%. Despite a healthy long-term growth rate in operating profit of 41.06% and a low debt-to-equity ratio of 0.06, the company has reported flat results for the quarter ending June 25, with significant declines in both profit before tax and profit after tax, contributing to its negative performance over the past year, which shows a return of -25.80%.
In the broader market context, the stock's recent performance contrasts sharply with the Sensex, which has only declined by 1.22% over the past week and 3.00% over the past month. The underperformance of IFB Industries is further highlighted by its negative returns over the last three years, one year, and three months compared to the BSE500. While the stock has shown attractive valuation metrics, including a price-to-book value of 6.3, the overall market sentiment and the company's recent financial results have led to a bearish outlook, resulting in a significant drop in its stock price.