Why is Race Eco falling/rising?

As of 16-Jul, Race Eco Chain Ltd's stock price is currently at Rs. 232.60, reflecting a decrease of Rs. 0.15 or 0.06%. The stock has recently hit a new 52-week low of Rs. 230, indicating a downward trend. Today's performance is in line with the sector, but the stock's delivery volume has significantly decreased by 64.68% compared to the 5-day average, suggesting falling investor participation. Over the past week, the stock has declined by 0.28%, and it has experienced a substantial drop of 39.74% year-to-date, contrasting sharply with the Sensex, which has gained 5.75% during the same period. Despite these declines, the company has shown healthy long-term growth, with net sales increasing at an annual rate of 43.60% and operating profit growing by 132.04%, which may provide some support for the stock.
In the broader market context, the stock's recent performance has been weaker than the benchmark, with a year-to-date decline of 39.74% compared to the Sensex's increase of 5.75%. This underperformance highlights the challenges Race Eco Chain Ltd is facing in the current market environment. Although the company has declared positive results for the last three consecutive quarters, including a remarkable growth in net profit of 1290.91%, the overall market sentiment and declining investor participation may be contributing to the stock's current downward movement. The majority of shareholders being non-institutional could also indicate a lack of confidence among larger investors, further impacting the stock's performance.