Why is Ipca Labs falling/rising?

As of 04-Aug, Ipca Laboratories Ltd is experiencing a decline in its stock price, currently at Rs 1,440.55, reflecting a decrease of Rs 9.65 or 0.67%. The stock has underperformed its sector by 1.01% today and has been on a downward trend for the past three days, accumulating a total loss of 5.78%. Over the past week, the stock has decreased by 2.90%, while it has shown a modest gain of 1.53% over the past month. Despite positive financial results over the last four quarters, including a significant growth in profit after tax and a high return on capital employed, the stock's performance has been hindered by falling investor participation, as evidenced by a 38.28% drop in delivery volume compared to the five-day average.
In the broader market context, the Sensex has shown a slight increase of 0.16% over the past week, contrasting with Ipca Laboratories' decline. While the stock has outperformed the market over the past year with a return of 10.48% compared to the Sensex's 0.05%, its year-to-date performance is concerning, with a drop of 14.84% against the Sensex's gain of 3.69%. The stock's liquidity remains adequate for trading, but the recent consecutive price falls and lower moving averages indicate a bearish sentiment among investors, which may be contributing to the current price decline.