Why is ION Exchange falling/rising?

As of 22-Aug, Ion Exchange (India) Ltd is experiencing a decline in its stock price, currently at 446.80, which reflects a decrease of 9.2 points or 2.02%. Today's price summary indicates that the stock has underperformed its sector by 1.94% and has fallen after three consecutive days of gains. The stock touched an intraday low of Rs 444, and the weighted average price suggests that more volume was traded closer to this low price. Additionally, the stock's performance over the past month shows a significant decline of 17.27%, while its year-to-date performance is down 31.79%. Despite a high management efficiency indicated by a return on equity (ROE) of 22.67% and a low debt-to-equity ratio, the stock's long-term growth prospects appear poor, with net sales and operating profit showing declines in recent quarters.
Broader market context reveals that while the Sensex has increased by 0.88% over the past week, Ion Exchange's stock has risen by 3.56% in the same period, indicating a short-term outperformance. However, over the last year, the stock has significantly underperformed the market, with a return of -37.34% compared to the BSE500's decline of only 2.49%. This stark contrast highlights the challenges faced by Ion Exchange, including negative quarterly results and a lack of long-term growth, which may lead investors to reassess their positions in the stock amidst falling investor participation and liquidity concerns.