Why is ION Exchange falling/rising?

As of 07-Oct, Ion Exchange (India) Ltd is experiencing a decline in its stock price, currently at 400.20, reflecting a decrease of 3.5 points or 0.87%. The stock has hit a new 52-week low of Rs.399.2 today and has underperformed its sector by 1.25%. Over the past week, the stock has fallen by 0.85%, and its performance over the last month shows a decline of 4.06%. Additionally, the stock has been on a downward trend for the last two days, with a total drop of 2.63%. Despite having 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 growth at only 14.09% over the last five years. This, combined with negative results reported in June, has contributed to the stock's recent struggles.
In the broader market context, the stock's performance has significantly lagged behind the benchmark, with a year-to-date decline of 38.90% compared to a 4.85% gain in the Sensex. The stock's recent performance is concerning, especially as it has consistently underperformed the market over the past year, where it recorded a return of -35.53% against the BSE500's -0.31%. The falling investor participation, indicated by a 7.86% drop in delivery volume, further highlights the lack of confidence in the stock, contributing to its current downward trajectory.