Why is Indef Manufactur falling/rising?

As of 18-Jun, Indef Manufacturing Ltd's stock price is currently at 401.40, reflecting a decrease of 25.0 points or 5.86%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 10.47% during this period. Today's performance indicates that the stock has underperformed its sector by 6.01%, with an intraday low of Rs 396.7. Additionally, the stock has shown a significant drop in investor participation, with delivery volume decreasing by 61.89% compared to the five-day average. Despite a low debt-to-equity ratio, the company faces challenges such as poor long-term growth, with net sales declining at an annual rate of 1.60% over the past five years, and a high valuation reflected by a price-to-book value of 5.1.
In the broader market context, the stock's one-week return of -9.63% contrasts sharply with the Sensex, which has only declined by 1.30% during the same period. This indicates that Indef Manufacturing Ltd is experiencing a more pronounced downturn compared to the overall market. While the stock has shown a remarkable increase of 77.61% over the past month, the recent performance suggests a reversal in momentum, likely driven by the company's flat results and high valuation concerns. Overall, the combination of declining sales, reduced investor interest, and a significant drop in price has contributed to the stock's current downward trajectory.