Why is P I Industries falling/rising?

As of 18-Sep, P I Industries Ltd is experiencing a decline in its stock price, currently at Rs 3,706.90, which reflects a decrease of Rs 35.1 or 0.94%. The stock has touched an intraday low of Rs 3,655, marking a drop of 2.32%. Over the past week, the stock has underperformed with a return of -0.75%, and it has shown a negative trend over the last month with a decline of 1.28%. Despite a high management efficiency indicated by a return on equity (ROE) of 16.06% and a low debt-to-equity ratio, the stock's performance has been hindered by flat results in recent quarters and a significant decline in profits by 7.8% over the past year. Additionally, the stock is trading below its moving averages, which suggests a bearish sentiment among investors.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark Sensex, which has gained 1.80% over the past week and 2.14% over the past month. This consistent underperformance against the benchmark, coupled with a high price-to-book ratio indicating an expensive valuation, has likely contributed to investor caution. Furthermore, while institutional holdings remain strong at 46.32%, the overall sentiment appears to be affected by the company's inability to generate positive returns compared to its peers, as evidenced by its -20.36% return over the last year.