Why is ION Exchange falling/rising?

As of 10-Nov, Ion Exchange (India) Ltd is experiencing a decline in its stock price, currently at Rs. 371.90, which reflects a decrease of Rs. 8.5 or 2.23%. The stock has hit a new 52-week low of Rs. 368.8 today and has been on a downward trend for the past four days, resulting in a 7.98% loss over that period. Additionally, the stock has significantly underperformed the market, with a one-year return of -44.69% compared to the Sensex's gain of 5.09%. Despite having a high return on equity (ROE) of 22.67% and a low debt-to-equity ratio, the company's operating profit growth has been poor, and its profits have fallen by 2.8% over the past year, contributing to the stock's negative performance.
In the broader market context, Ion Exchange's recent performance contrasts sharply with the benchmark Sensex, which has only declined by 0.53% over the past week. This underperformance highlights the stock's struggles, particularly as it has not only lagged behind the market but also failed to capitalize on the overall market's positive trends. The company's flat results in September and low operating cash flow further exacerbate investor concerns, leading to a lack of confidence in its long-term growth potential. While there has been a rise in investor participation, as indicated by increased delivery volume, it has not been sufficient to counteract the prevailing negative sentiment surrounding the stock.