Why is Ratnamani Metals falling/rising?

As of 08-Sep, Ratnamani Metals & Tubes Ltd is experiencing a decline in its stock price, currently at Rs 2,366.70, which reflects a decrease of Rs 37.95 or 1.58%. The stock has underperformed its sector by 2.87% today and has been on a downward trend for the past two days, accumulating a total loss of 2.08%. Despite opening with a gain of 3.55% and reaching an intraday high of Rs 2,490, it is now trading below all key moving averages. The stock is also close to its 52-week low, just 4.58% away from Rs 2,258.2. The recent financial performance has shown concerning trends, with net sales falling by 11.2% and profit before tax declining by 14.2% compared to previous quarters. Although the company boasts a high return on equity and low debt-to-equity ratio, these positives are overshadowed by the significant drop in profits and overall underperformance over the past year.
In the broader market context, Ratnamani Metals' short-term performance has been notably weaker than the benchmark Sensex, which has gained 0.53% over the past week while the stock has declined by 1.58%. This underperformance is indicative of broader investor sentiment, as the stock has generated a return of -37.41% over the last year, contrasting sharply with the Sensex's modest gain of 3.39% during the same period. Additionally, the significant drop in delivery volume suggests a decrease in investor participation, which may further contribute to the stock's declining price. Overall, the combination of poor recent financial results, declining investor interest, and underperformance relative to the market has led to the current downward movement in Ratnamani Metals' stock price.