Why is ION Exchange falling/rising?

As of 05-Sep, Ion Exchange (India) Ltd is experiencing a slight increase in its stock price, currently at 417.15, reflecting a change of 0.3 or 0.07% upward. However, the stock has shown a negative performance over various time frames, with a decline of 9.42% over the past month and a significant drop of 36.31% year-to-date. The stock is trading below its moving averages across all time frames, indicating a bearish trend. Additionally, the delivery volume has decreased by 16.88% compared to the 5-day average, suggesting falling investor participation. Despite a high 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 growth rates of only 14.09% and 15.86% respectively over the last five years.
Broader market context shows that while the Sensex has gained 1.13% in the past week, Ion Exchange has underperformed with a decline of 0.32%. Over the past year, the stock's return of -37.51% starkly contrasts with the broader market's negative return of -1.81%. This underperformance highlights the challenges faced by Ion Exchange, particularly following negative results in June and low metrics such as the lowest return on capital employed (ROCE) at 19.53%. The stock's fair valuation compared to peers may not be sufficient to attract investors given its recent performance and the broader market's relative stability.