Why is Permanent Magnet falling/rising?

As of 23-Jul, Permanent Magnets Ltd is experiencing a decline in its stock price, currently at Rs 997.00, which reflects a decrease of Rs 21.85 or 2.14%. Today's performance indicates that the stock has underperformed its sector by 1.42%, with an intraday low of Rs 980, marking a drop of 3.81%. Despite a strong performance over the past three years with a return of 195.76%, the stock has seen a negative return of 3.87% over the past year, coupled with disappointing financial results, including a significant decline in net sales and profit after tax. The company's low debt-to-equity ratio is a positive aspect; however, the overall poor long-term growth and high valuation compared to peers may be contributing to the recent price drop.
In the broader market context, Permanent Magnets Ltd has outperformed the Sensex in the short term, with a 1-week return of 12.02% compared to the benchmark's 0.11%. However, the stock's year-to-date performance of 3.21% trails behind the Sensex's 5.87%. The decline in investor participation, as indicated by a drop in delivery volume, suggests a lack of confidence among investors, which may be exacerbated by the absence of domestic mutual fund investment in the company. This lack of institutional backing could further pressure the stock price, reflecting broader concerns about its growth prospects and valuation.