Why is Panama Petrochem falling/rising?

As of 24-Sep, Panama Petrochem Ltd's stock price is currently at Rs 289.70, reflecting a decrease of -0.3 (-0.1%). The stock has been on a downward trend, having lost -4.04% over the last six days and is now trading close to its 52-week low, just 0.45% away from Rs 288.4. In terms of performance against benchmarks, the stock has underperformed significantly, with a -27.42% return over the past year compared to a -3.77% decline in the Sensex. Additionally, the stock is trading below all key moving averages, indicating a bearish trend. The company has shown a decline in investor participation, with delivery volume falling by -9.09% against the five-day average, suggesting waning interest among investors.
In the broader market context, Panama Petrochem's recent performance contrasts sharply with the Sensex, which has gained 4.58% year-to-date. The company's financial health shows a low debt-to-equity ratio and healthy long-term growth in net sales and operating profit; however, recent negative results, including a -10% decline in profits and the lowest return on capital employed (ROCE) at 19.15%, have raised concerns. Furthermore, the lack of domestic mutual fund investment, which stands at 0%, may indicate a lack of confidence in the stock's valuation or business prospects. Overall, the consistent underperformance against benchmarks over the last three years further underscores the challenges faced by Panama Petrochem, contributing to its current price decline.