Why is Prem. Explosives falling/rising?

As of 01-Aug, Premier Explosives Ltd's stock price is currently at Rs 426.95, reflecting a decrease of Rs 12.3 or 2.8%. The stock has been on a downward trend, having fallen consecutively for the last eight days, resulting in a total decline of 17.74% during this period. Additionally, the stock has underperformed its sector by 0.84% today and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past year, the stock has experienced a significant decline of 33.71%, while its profits have only marginally increased by 1.2%. The recent flat results reported for March 25, including a 44.47% drop in profit before tax and a 44.6% decrease in profit after tax, have contributed to the negative sentiment surrounding the stock. Furthermore, the stock's high valuation, with a Price to Book Value of 9.3, raises concerns among investors.
In the broader market context, the stock has notably underperformed compared to the benchmark, with a 1-year return of -33.71% against the BSE500's decline of only -4.13%. This stark contrast highlights the stock's struggles relative to the overall market performance. Despite a healthy long-term growth rate in operating profit of 44.29%, the recent financial results and high valuation have led to a lack of investor confidence, resulting in a significant drop in stock price. The rising investor participation, indicated by an increase in delivery volume, may suggest some interest, but it has not been sufficient to counteract the prevailing negative trends.