Why is Nath Industries falling/rising?

As of 13-Aug, Nath Industries Ltd is experiencing a decline in its stock price, currently at Rs 76.07, which reflects a decrease of Rs 7.74 or 9.24%. The stock has underperformed its sector by 10.13% today and has been on a downward trend for the last two days, accumulating a total loss of 12.61%. It opened with a significant gap down of 4.56% and reached an intraday low of Rs 75, indicating weak market sentiment. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend. Despite these challenges, the company has shown positive financial results over the last three quarters, with net sales growing by 46.60% and a substantial increase in profits, which may indicate underlying strength that could support the stock in the long term.
In the broader market context, Nath Industries' short-term performance has been notably weaker than the benchmark, with a 1-week return of -10.51% compared to a negligible change of -0.01% in the Sensex. Over the past month, the stock has also underperformed, with a decline of 11.50% against a 2.38% drop in the benchmark. However, it has shown resilience year-to-date with a return of 10.01%, outperforming the Sensex's 3.07%. The rising investor participation, indicated by a significant increase in delivery volume, may suggest that some investors see value in the stock despite its recent price decline. Overall, while the stock faces immediate downward pressure, its strong financial performance and attractive valuation metrics could provide a foundation for recovery in the future.