Why is IFGL Refractori. falling/rising?

As of 07-Nov, IFGL Refractories Ltd's stock price is currently at 234.80, reflecting a decrease of 5.15 points or 2.15%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 6.36% during this period. Additionally, the stock has experienced a significant drop of 19.03% over the past month, while its one-year return stands at -20.24%. The company has reported negative results for the last six consecutive quarters, with profits declining sharply by 62%, which has contributed to the stock's poor performance. Furthermore, despite having a low debt-to-equity ratio and a fair valuation, the stock is trading at a premium compared to its peers, indicating potential overvaluation concerns.
In the broader market context, the stock has underperformed the Sensex, which has gained 1.57% over the past month and 4.62% over the past year. While the market has shown resilience, IFGL Refractories Ltd's returns have been negative, highlighting a stark contrast in performance. The stock's recent decline is exacerbated by falling investor participation, as evidenced by a 24.98% drop in delivery volume compared to the five-day average. Overall, the combination of poor financial results, declining sales growth, and underperformance relative to the benchmark has led to a negative sentiment surrounding the stock, contributing to its current downward trajectory.