Why is Permanent Magnet falling/rising?

As of 16-Jul, Permanent Magnets Ltd's stock price is currently at Rs 890.00, reflecting a decrease of Rs 6.85 or 0.76%. The stock has underperformed its sector today, with a performance drop of 1.12%. It reached an intraday low of Rs 868, which is a decline of 3.22%. Over the past week, the stock has seen a return of -5.27%, while its performance over the last month is -2.48%. The company has reported a significant drop in investor participation, with delivery volume falling by 38.73% compared to the 5-day average. Additionally, the stock's long-term growth prospects appear poor, with net sales growth at only 13.37% over the last five years and a notable decline in profits, as evidenced by a 42.99% drop in PAT over the latest six months.
In the broader market context, the stock has significantly underperformed compared to the benchmark, with a one-year return of -16.98% against the Sensex's positive return of 2.38%. This underperformance is compounded by the fact that domestic mutual funds hold no stake in the company, indicating a lack of confidence in its valuation and business prospects. The stock's current valuation appears expensive, trading at a premium compared to its peers, which may further deter potential investors. Overall, the combination of poor financial performance, declining investor interest, and unfavorable comparisons to the broader market contributes to the stock's downward movement.