Why is Jindal Photo falling/rising?

As of 24-Jul, Jindal Photo Ltd is currently priced at 875.00, reflecting a decrease of 5.0 or 0.57%. The stock has been on a downward trend, having lost 3.63% over the last three days and is down 12.50% over the past month. It has also shown a decline of 3.77% year-to-date. The stock's performance today is in line with its sector, but it has been trading in a narrow range of Rs 3.5. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 44.63% compared to the five-day average. The company's recent financial results have been disappointing, with a substantial decline in profit before tax and profit after tax, both down over 60% compared to previous quarters. This has contributed to a perception of the stock being overvalued, despite a high return on equity of 23.3%.
In the broader market context, Jindal Photo's short-term performance has been worse than the benchmark Sensex, which has only declined by 0.09% over the past week. While the stock has shown impressive long-term growth over three and five years, its recent performance contrasts sharply with the benchmark's positive returns of 5.18% year-to-date and 2.54% over the past year. The low stake held by domestic mutual funds, at just 0.03%, suggests a lack of confidence in the stock's current valuation or business prospects, further influencing its negative price movement.