Why is Polylink Poly. falling/rising?

As of 14-Aug, Polylink Polymers (India) Ltd is experiencing a decline in its stock price, currently at Rs. 23.99, reflecting a decrease of 0.69 or 2.8%. The stock has hit a new 52-week low of Rs. 23.51 today and has underperformed its sector by 2.44%. Over the past week, the stock has decreased by 5.18%, and its performance over the last month shows a decline of 9.91%. The stock is trading below all key moving averages, indicating a bearish trend. Additionally, delivery volume has significantly dropped by 76% compared to the 5-day average, suggesting a decrease in investor participation. The company has also reported a substantial year-on-year return decline of 43.66%, alongside a 37.8% drop in profits.
In the broader market context, Polylink's performance contrasts sharply with the Sensex, which has only seen a minor decline of 0.03% over the past week. This underperformance is indicative of weak long-term fundamentals, as evidenced by a low return on equity of 4.8% and a poor EBIT to interest ratio of 1.73, highlighting the company's challenges in servicing its debt. The stock's valuation, while attractive at a price-to-book ratio of 1.8, does not compensate for the significant decline in net sales and profits. Overall, the combination of weak financial results, declining investor interest, and poor relative performance against the benchmark contributes to the stock's downward trajectory.