Why is JNK falling/rising?

As of 25-Jul, JNK India Ltd is currently priced at 329.95, reflecting a decline of 1.9, or 0.57%. The stock has been underperforming recently, having fallen consecutively for the last two days, resulting in a total drop of 2.15%. Over the past week, JNK has shown a slight increase of 0.98%, but it has significantly underperformed in the longer term, with a year-to-date decline of 49.60% and a one-year drop of 56.47%. Despite having high management efficiency and a healthy long-term growth rate in net sales, the company has faced challenges, including a flat performance in its latest results and a significant decline in profits. The stock's valuation appears expensive with a Price to Book Value of 3.7, which may deter investors.
In the broader market context, JNK's performance contrasts with the Sensex, which has gained 4.25% year-to-date. While JNK has outperformed its sector by 1.66% today, the overall engineering sector has seen a decline of 2.21%. Additionally, there has been a notable decrease in investor participation, with delivery volume dropping by 68.9% against the five-day average, indicating reduced interest in the stock. This lack of investor confidence, combined with the stock's poor long-term performance and recent negative financial results, contributes to the downward pressure on JNK's stock price.