Why is Jagan Lamps falling/rising?

As of 18-Sep, Jagan Lamps Ltd is experiencing a decline in its stock price, currently at Rs 82.19, which reflects a decrease of Rs 1.41 or 1.69%. The stock has underperformed its sector by 1.83% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 2.68%. Despite opening with a gain of 4.9% and reaching an intraday high of Rs 87.7, the stock's performance has been hindered by falling investor participation, with delivery volume dropping by 40.02% compared to the five-day average. Over the past year, Jagan Lamps has generated a return of -14.34%, significantly underperforming the broader market, which saw a decline of only 1.96%.
In the broader market context, Jagan Lamps' short-term return of +3.81% over the past week is notably higher than the Sensex's increase of 1.80%, indicating some positive momentum in the short term. However, the stock's long-term fundamentals appear weak, with a Return on Capital Employed (ROCE) of 8.1 and a PEG ratio of 11.1, suggesting that while the stock is trading at a discount compared to its peers, its overall performance has been lackluster. The negative results reported in June, including the lowest net sales and profit before tax figures, further contribute to the stock's downward trajectory, overshadowing its attractive valuation and recent gains.