Why is Paragon Fine falling/rising?

As of 12-Sep, Paragon Fine and Speciality Chemical Ltd is experiencing a decline in its stock price, currently at Rs 53.50, which reflects a decrease of Rs 1.45 or 2.64%. The stock is trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the stock is close to its 52-week low, being only 2.8% away from Rs 52. Over the past week, the stock has underperformed its sector by 3.52%, and its year-to-date performance shows a significant decline of 43.42%, contrasting sharply with the Sensex's 6.21% gain. While there has been a slight increase in investor participation, with delivery volume rising by 11.11% against the 5-day average, the overall sentiment remains negative.
Broader Market Context: In the context of the broader market, Paragon Fine's recent performance has been notably poor compared to the Sensex, which has gained 1.51% over the past week. This stark contrast highlights the stock's struggles, particularly as it has underperformed the benchmark significantly over various time frames, including a 65.39% decline over the past year. The stock's liquidity appears adequate for trading, but the persistent downward trend and underperformance against the benchmark suggest a lack of investor confidence in the company's prospects at this time.