Why is Primo Chemicals falling/rising?

As of 30-Sep, Primo Chemicals Ltd is experiencing a decline in its stock price, currently at 24.00, reflecting a decrease of 0.35 or 1.44%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total drop of 7.69% during this period. Additionally, it is trading below all its moving averages, indicating a bearish trend. The stock's performance over the past week shows a significant decline of 6.87%, while it has also underperformed against the benchmark Sensex, which has only decreased by 2.23% in the same timeframe. Despite reporting positive financial results in the last four quarters, including substantial growth in profit before tax and net sales, the stock has still generated a negative return of 40.89% over the past year, highlighting a disconnect between its financial performance and market valuation.
In the broader market context, the stock's recent performance contrasts sharply with the Sensex, which has shown a slight increase of 0.57% over the past month and a positive return of 2.72% year-to-date. This consistent underperformance against the benchmark, coupled with a long-term decline in operating profit, has contributed to a lack of investor confidence. The significant drop in delivery volume by 40.75% against the five-day average further indicates reduced investor participation, which may exacerbate the stock's downward trajectory. Overall, while the company has demonstrated strong financial growth, the prevailing market sentiment and historical performance issues are leading to its current decline.