Why is Ratnamani Metals falling/rising?

As of 10-Oct, Ratnamani Metals & Tubes Ltd is experiencing a decline in its stock price, currently at Rs 2,323.70, which reflects a decrease of 14.05 points or 0.6%. The stock has been underperforming, with a consecutive fall over the last three days resulting in a total drop of 3.18%. Additionally, it is trading lower than its moving averages across various periods, indicating a bearish trend. The stock is also close to its 52-week low, just 2.82% away from Rs 2,258.2. Despite having high management efficiency and a low debt-to-equity ratio, the company has reported a significant decline in net sales and profit before tax, leading to concerns about its valuation and overall performance.
In the broader market context, Ratnamani Metals has underperformed relative to the Sensex, with a 1-week return of -3.78% compared to the benchmark's gain of 1.59%. The stock has also shown a substantial year-to-date decline of 27.02%, while the Sensex has increased by 5.58%. This stark contrast highlights the stock's struggles in both the short and long term, as it has generated a return of -34.53% over the past year, significantly lagging behind the broader market. The falling investor participation, evidenced by a 40.66% drop in delivery volume, further exacerbates the stock's challenges, indicating a lack of confidence among investors.