Why is New India Assura falling/rising?

As of 03-Nov, New India Assurance Company Ltd is experiencing a decline in its stock price, currently at Rs 183.05, which reflects a decrease of Rs 4.05 or 2.16%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 4.06% during this period. Additionally, the stock's performance today has underperformed its sector by 2.9%. It has also touched an intraday low of Rs 180.8. Over the past week, the stock has decreased by 3.63%, and year-to-date, it has dropped by 8.93%, significantly underperforming the benchmark Sensex, which has gained 7.47% during the same period.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark, as it has underperformed the market over the last year, generating negative returns of 8.20% while the BSE500 has returned 3.92%. The company's poor long-term growth prospects, indicated by an annual operating profit decline of 7.67%, and a high price-to-earnings growth (PEG) ratio of 2.7, suggest that investors may be losing confidence. Furthermore, the low participation from domestic mutual funds, holding only 0.5% of the company, may reflect a lack of comfort with the stock's valuation. This combination of factors contributes to the stock's downward trend and investor sentiment.