Why is Panyam Cement falling/rising?

As of 16-Jun, Panyam Cements & Mineral Industries Ltd is experiencing a decline in its stock price, currently at Rs 172.95, reflecting a decrease of 9.1 points or 5.0%. The stock has been underperforming, having fallen consecutively for the last two days with a total decline of 9.73% during this period. It opened the day with a loss of 2.5% and reached an intraday low of Rs 172.95. Despite trading above its moving averages over various periods, the stock's delivery volume has decreased, indicating falling investor participation. The company also faces significant challenges, including a negative book value, high debt levels, and poor long-term growth metrics, which have contributed to its recent price movement.
In the broader market context, Panyam Cement has shown a strong performance over the past week and month, with returns of 9.46% and 41.24%, respectively, while the Sensex has declined by 0.79% and 0.65% during the same periods. However, the stock has consistently underperformed against the benchmark over the last three years, generating a negative return of 8.18% in the past year compared to the Sensex's positive return of 6.24%. This consistent underperformance, coupled with negative financial results and a weak long-term outlook, has likely contributed to the stock's current downward trend.