Why is Pradeep Metals falling/rising?

As of 01-Sep, Pradeep Metals Ltd. is experiencing a decline in its stock price, currently at Rs 230.00, reflecting a decrease of Rs 5.0 or 2.13%. The stock has underperformed its sector by 3.33% today and has been on a downward trend for the last two days, with a total drop of 3.69% during this period. Although the stock opened with a gain of 2% and reached an intraday high of Rs 240.2, it also hit a low of Rs 228.1. Over the past week, the stock has fallen by 4.37%, and its performance over the last month shows a significant decline of 26.47%. The stock's trading below all key moving averages and a drastic drop in delivery volume by 92.67% compared to the 5-day average indicate weak investor interest. Additionally, while the company has a high return on capital employed (ROCE) of 17.91% and is trading at a discount compared to peers, its profits have decreased by 5.5%, contributing to negative sentiment.
In the broader market context, Pradeep Metals has underperformed the benchmark Sensex, which has shown a slight decline of 1.56% over the past week, while the stock itself has dropped more significantly. Over the past year, the stock's return of -22.02% starkly contrasts with the Sensex's decline of only 2.43%, highlighting its poor long-term growth prospects. Factors such as low net sales growth and a significant drop in profitability, including a 20.3% fall in profit after tax in the latest quarter, further exacerbate the stock's negative outlook. Overall, the combination of weak performance metrics, declining investor participation, and unfavorable comparisons to market benchmarks suggests that the stock's recent decline is driven by both company-specific challenges and broader market conditions.