Why is Ratnamani Metals falling/rising?

As of 19-Nov, Ratnamani Metals & Tubes Ltd is experiencing a decline in its stock price, currently at Rs 2,361.25, reflecting a decrease of Rs 47.1 or 1.96%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 4.37% during this period. It is also trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The company has reported a significant drop in net sales, down 7.5% compared to the previous quarter, and has generated a return of -31.29% over the past year. While it has a high return on equity (ROE) of 16.88% and a low debt-to-equity ratio, these positive factors are overshadowed by its recent poor performance and expensive valuation relative to its peers.
In the broader market context, Ratnamani Metals has underperformed compared to the benchmark Sensex, which has gained 0.85% over the past week while the stock has declined by 4.16%. This trend is consistent with the stock's year-to-date performance, where it has dropped 25.84% compared to the Sensex's 9.02% increase. The stock's liquidity remains adequate, with a notable increase in delivery volume, suggesting some investor interest despite the negative price movement. Overall, the combination of disappointing sales results, a high price-to-book ratio, and underperformance relative to both the market and its historical performance contributes to the stock's current downward trajectory.