Why is Nahar Capital falling/rising?

As of 23-Sep, Nahar Capital & Financial Services Ltd is experiencing a decline in its stock price, currently at Rs 286.10, reflecting a decrease of Rs 9.9 or 3.34%. The stock has underperformed its sector today by 3.67% and opened with a loss of 4.56%, reaching an intraday low of Rs 282.1. Over the past week, the stock has seen a slight decline of 0.66%, and it has underperformed the benchmark Sensex over various periods, including a year-to-date return of -8.87% compared to the Sensex's 5.07%. Despite the company declaring positive results for the last five consecutive quarters, including a significant growth in profit after tax and net sales, it faces challenges with weak long-term fundamental strength, reflected in a low return on equity and poor growth rates in operating profit.
Broader market context shows that while the stock has generated a negative return of -10.52% over the past year, the benchmark has only declined by 3.33% during the same period, indicating consistent underperformance. This trend is further emphasized by the stock's significant drop over the last three years, where it has lagged behind the BSE500 index. The stock's valuation appears expensive relative to its peers, despite a low price-to-book ratio, which may deter investors. Overall, the combination of recent price declines, underperformance against benchmarks, and fundamental weaknesses contributes to the stock's current downward trajectory.