Why is Paul Merchants falling/rising?

As of 28-Jul, Paul Merchants Ltd is experiencing a decline in its stock price, currently at 748.25, reflecting a decrease of 1.75 points or 0.23%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 4.66% during this period. Additionally, the stock has shown negative returns over various time frames, including a year-to-date drop of 20.82% compared to the Sensex's gain of 3.52%. The company has also reported a significant decrease in investor participation, with delivery volume falling by 21.32% against the five-day average. Furthermore, the stock is trading below all major moving averages, indicating a bearish trend. The company's fundamentals are concerning, with operating losses and a 42.6% decline in profits over the past year, contributing to a weak long-term outlook.
In the broader market context, while the Sensex has experienced a slight decline of 1.59% over the past week, Paul Merchants has fared worse with a drop of 2.06%. This underperformance highlights the stock's struggles relative to the market. The company's negative results over the last four quarters and a significant annual decline in net sales at a rate of 8.66% further exacerbate the situation, leading to a perception of weak long-term growth potential. Despite a fair valuation based on its price-to-book ratio, the stock's premium compared to peers and the overall negative sentiment surrounding its financial health suggest that investors are cautious, contributing to the downward pressure on its price.