Why is JNK falling/rising?

As of 01-Aug, JNK India Ltd's stock price is currently at 321.30, reflecting a decrease of 2.25, or 0.7%. The stock has been underperforming recently, having fallen consecutively for the last two days with a total decline of 2.58%. Over the past week, the stock has decreased by 2.62%, and it has seen a significant drop of 50.92% year-to-date. Despite a high management efficiency indicated by a return on capital employed (ROCE) of 27.33% and a low debt-to-equity ratio of 0.09, the company has reported a decline in profits, with a 59.42% drop in profit after tax over the past nine months. Additionally, the stock's performance has been hindered by flat results and a high price-to-book value ratio of 3.6, suggesting an expensive valuation relative to its earnings.
In the broader market context, JNK India Ltd has underperformed the benchmark Sensex, which has seen a modest gain of 3.15% year-to-date, while JNK has experienced a substantial decline. The stock's recent performance has been somewhat offset by a rise in investor participation, with delivery volume increasing by 46.72% against the five-day average, indicating some interest despite the overall negative sentiment. However, the stock's trading below its moving averages across various timeframes further emphasizes its weak position in the market. Overall, the combination of poor financial results, high valuation concerns, and significant underperformance compared to the benchmark contributes to the stock's downward trend.