Why is Ratnamani Metals falling/rising?

As of 19-Sep, Ratnamani Metals & Tubes Ltd is experiencing a decline in its stock price, currently at Rs 2,420.00, which represents a decrease of Rs 69.1 or 2.78%. Today's price summary indicates that the stock has underperformed its sector by 2.98%, with an intraday low of Rs 2,393, reflecting a drop of 3.86%. Over the past week, the stock has shown a slight increase of 1.47%, but it has underperformed over the past month with a marginal decline of 0.09%. The company's recent financial performance has raised concerns, as net sales have fallen by 11.2% compared to the previous quarter average, and profit before tax has decreased by 14.2%. Although the company maintains a high return on equity (ROE) of 16.53% and a low debt-to-equity ratio of 0.01, these positive factors are overshadowed by the stock's significant decline of 34.29% over the past year and its underperformance against the BSE500 index.
In the broader market context, the stock's short-term performance of +1.47% over the last week contrasts with the benchmark Sensex, which has increased by 0.88% during the same period. However, the stock's year-to-date performance is notably poor, with a decline of 23.99% compared to the Sensex's gain of 5.74%. This underperformance is compounded by falling investor participation, as evidenced by a 3.27% decrease in delivery volume compared to the five-day average. The stock's valuation appears expensive with a price-to-book ratio of 4.7, further contributing to investor hesitance. Overall, while there are some positive indicators regarding management efficiency and institutional holdings, the recent financial results and overall market performance suggest a challenging environment for Ratnamani Metals & Tubes Ltd.