Why is ION Exchange falling/rising?

As of 26-Aug, Ion Exchange (India) Ltd is experiencing a decline in its stock price, currently at Rs 433.60, which reflects a decrease of Rs 15.05 or 3.35%. Today's price summary indicates that the stock underperformed its sector by 1.43%, hitting an intraday low of Rs 430.1, which is a drop of 4.13%. The stock has shown negative returns over various periods, including a 1-week decline of 1.79% and a 1-month decline of 7.01%. Despite a high management efficiency with a return on equity (ROE) of 22.67% and a low debt-to-equity ratio, the stock's performance has been hindered by poor long-term growth metrics, including a significant drop of 39.77% over the past year, which is much worse than the broader market's decline of 3.87%.
In the broader market context, the stock's recent performance has been notably weaker compared to the benchmark, with a year-to-date return of -33.80% against the Sensex's positive return of 3.39%. The engineering sector, to which Ion Exchange belongs, has also faced challenges, evidenced by a sector decline of 2.2%. The falling investor participation, with a decrease in delivery volume, further indicates a lack of confidence among investors. Overall, the combination of underperformance against the market, negative financial indicators, and sector challenges contributes to the stock's current downward trajectory.