Why is Permanent Magnet falling/rising?

As of 01-October, Permanent Magnets Ltd is experiencing a decline in its stock price, currently at 925.80, which represents a decrease of 27.9 or 2.93%. The stock has been underperforming significantly, having fallen consecutively for the last seven days, resulting in a total return of -14.51% during this period. Although the stock opened today with a gain of 2.73% and reached an intraday high of Rs 979.75, it also touched a low of Rs 912.15, indicating volatility. Over the past week, the stock has underperformed the sector by 5.19%, and its year-to-date return stands at -4.16%, contrasting with the Sensex's gain of 3.64%. The company's low debt-to-equity ratio of 0.03 times is a positive aspect; however, its operating profit growth has been sluggish at an annual rate of 4.84% over the last five years, and profits have fallen by 23% in the past year, contributing to the stock's negative sentiment.
In the broader market context, the stock's short-term performance has been notably worse than the benchmark, with a 1-week return of -12.15% compared to the Sensex's decline of only 0.90%. This stark difference highlights the stock's struggles relative to the overall market. Additionally, the engineering sector has gained by 2.26%, further emphasizing Permanent Magnets Ltd's underperformance. The lack of investment from domestic mutual funds, which hold 0% of the company, suggests a lack of confidence in its valuation and business prospects, potentially impacting investor sentiment negatively.