Why is Manaksia falling/rising?

As of 08-Oct, Manaksia Ltd's stock price is currently at 66.30, reflecting a decrease of 1.74, or 2.56%. The stock opened the day with a gain of 2.15% but subsequently fell to an intraday low of Rs 65.66, indicating volatility. Over the past week, the stock has underperformed, showing a decline of 1.65%, while the Sensex has gained 0.98%. Year-to-date, Manaksia's returns are down 20.24%, significantly lagging behind the Sensex's 4.65% increase. The company's financial performance has been concerning, with a 33.63% drop in returns over the past year and a 42.2% decline in profits, contributing to negative sentiment among investors. Despite a low debt-to-equity ratio and attractive valuation metrics, the stock is trading at a premium compared to its peers, which may deter potential buyers.
Broader Market Context: In the context of the broader market, Manaksia's recent performance has been disappointing compared to the benchmark indices. While the Sensex has shown positive movement, Manaksia has consistently underperformed, particularly over the last three years, where it has recorded a return of -21.40% against the Sensex's 40.53%. This underperformance, combined with flat growth in net sales and operating profit over the last five years, suggests a lack of confidence in the company's long-term growth prospects, further influencing the stock's downward trajectory.