Why is Manoj Vaibhav falling/rising?

As of 12-Jun, Manoj Vaibhav Gems N Jewellers Ltd is experiencing a decline in its stock price, currently at Rs 245.00, reflecting a decrease of Rs 5.55 or 2.22%. The stock has been on a downward trend, having fallen for the last three consecutive days, resulting in an overall decline of 8.14% during this period. Today's trading saw the stock touch an intraday low of Rs 242.25, with a weighted average price indicating more volume traded closer to this low. Despite this decline, the company reported positive financial results for March 25, with the highest operating profit to interest ratio at 4.74 times and net sales reaching Rs 705.10 crore, suggesting strong underlying performance. However, the stock's year-to-date return is down by 12.80%, contrasting with a 4.55% gain in the benchmark index, indicating a relative underperformance.
In the broader market context, the stock's short-term performance has been notably weaker than the Sensex, which has gained 0.31% over the past week while Manoj Vaibhav has dropped 6.81%. The diamond and gold jewellery sector has also seen a decline of 2.38%, contributing to the stock's downward pressure. Although there has been a rise in investor participation, with delivery volume increasing by 14.29% against the five-day average, the overall market sentiment appears to be affecting the stock negatively. The stock's valuation remains attractive with a return on capital employed of 14.4 and a PEG ratio of 0.5, but these positive factors have not been sufficient to counteract the recent price declines.