Why is Rajoo Engineers falling/rising?

As of 26-Aug, Rajoo Engineers Ltd is currently priced at 103.90, reflecting a decrease of -0.1 (-0.1%). The stock has been underperforming recently, having fallen consecutively for the last three days, resulting in a total decline of -4.5% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite a healthy long-term growth with operating profit increasing at an annual rate of 106.20% and net profit growing by 168.91%, the stock's performance over the past year has been poor, with a return of -59.39%. This decline is compounded by a very expensive valuation reflected in a Price to Book Value of 11.4, despite the company having a low debt-to-equity ratio.
In the broader market context, Rajoo Engineers has underperformed compared to the benchmark, with a one-year return of -59.39% against the BSE500's negative return of -3.87%. The stock has also seen a significant drop in investor participation, with delivery volume decreasing by 45.37% compared to the 5-day average. While the company has declared positive results for the last nine consecutive quarters, the overall market sentiment has not favored the stock, leading to its continued decline. The stock's performance over the past month, down -9.65%, further illustrates its struggles relative to the benchmark, which only fell by -0.83% during the same period.