Why is ION Exchange falling/rising?

As of 17-Sep, Ion Exchange (India) Ltd is currently priced at 424.05, reflecting a decrease of 1.75, or 0.41%. The stock has been underperforming, having lost 0.92% over the last two days and showing a performance today that is 0.91% lower than its sector. In terms of returns, the stock has experienced a decline of 1.72% over the past month and a significant drop of 35.17% over the past year, despite a strong performance of 98.98% over the last three years. The company exhibits high management efficiency with a return on equity (ROE) of 22.67% and a low debt-to-equity ratio, but it has also shown poor long-term growth, with net sales growing at an annual rate of only 14.09% over the last five years.
Broader Market Context: The stock's recent performance contrasts with the benchmark Sensex, which has gained 1.56% over the past week and 2.60% over the past month. While the broader market has shown resilience, Ion Exchange has underperformed significantly, particularly over the last year, where it fell by 35.17% compared to the market's decline of only 0.46%. This underperformance, coupled with falling investor participation and liquidity concerns, suggests a challenging environment for the stock, contributing to its current downward price movement.