Why is ION Exchange falling/rising?

As of 23-Sep, Ion Exchange (India) Ltd is experiencing a decline in its stock price, currently at 424.00, which reflects a decrease of 5.55 or 1.29%. The stock has underperformed its sector by 1.75% today and opened with a loss of 2.19%, reaching an intraday low of Rs 420.15. Over the past week, the stock has seen a slight decline of 0.42%, and its performance over the last month shows a more significant drop of 5.10%. Despite a high management efficiency indicated by a return on equity (ROE) of 22.67% and a low debt-to-equity ratio, the stock has faced challenges with poor long-term growth, as evidenced by a substantial decline of 36.71% over the past year compared to the market's negative return of 3.33%.
In the broader market context, the stock's recent performance has been weaker than the benchmark, with a year-to-date decline of 35.27% against a 5.07% increase in the Sensex. This underperformance is compounded by negative results reported in June, including the lowest return on capital employed (ROCE) at 19.53% and a significant drop in the debtors turnover ratio. While there has been a rise in investor participation, as indicated by a 10.32% increase in delivery volume, the overall sentiment remains cautious due to the company's inability to generate positive returns in the long term, leading to a bearish outlook for the stock.