Why is Rajoo Engineers falling/rising?

As of 22-Sep, Rajoo Engineers Ltd is experiencing a decline in its stock price, currently at Rs. 93.60, reflecting a decrease of Rs. 2.05 or 2.14%. The stock has hit a new 52-week low of Rs. 92.9 today and has underperformed its sector by 1.44%. Over the past week, the stock has fallen by 4.44%, and its year-to-date performance shows a significant decline of 60.24%. Despite the company reporting strong financial results, including a 168.91% growth in net profit and positive results for the last nine consecutive quarters, the stock's valuation appears expensive with a Price to Book Value of 10.3, contributing to its downward movement.
In the broader market context, the stock's performance has been notably worse than the benchmark, with a one-year return of -75.14% compared to the Sensex's decline of only 2.82%. This stark contrast highlights the stock's struggle to attract investor interest, as evidenced by a 33.96% drop in delivery volume against the five-day average. The stock is also trading below all key moving averages, indicating a bearish trend. Overall, while the company shows potential for long-term growth, the current market sentiment and performance metrics suggest a challenging environment for Rajoo Engineers Ltd.