Why is Redtape falling/rising?

As of 14-Jul, Redtape Ltd's stock price is currently at 135.15, reflecting a decrease of 2.35, or 1.71%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 2.14% during this period. Today's trading saw the stock reach an intraday low of Rs 133.8, and it has experienced a significant drop in investor participation, with delivery volume decreasing by 68.14% compared to the 5-day average. Despite showing high management efficiency with a ROCE of 20.25% and healthy long-term growth in net sales and operating profit, the stock's valuation appears expensive relative to its peers, and it has consistently underperformed against benchmarks over the past year.
In the broader market context, Redtape's short-term performance is notably worse than the benchmark, with a 1-week return of -3.91% compared to the Sensex's -1.42%. This consistent underperformance is further highlighted by the stock's year-to-date decline of 38.13%, while the benchmark has gained 5.27%. The stock's negative sentiment is compounded by its low operating profit to interest ratio and a significant drop in profit before tax, which has fallen by 16.9% compared to the previous four-quarter average. Overall, these factors contribute to a bearish outlook for Redtape Ltd, leading to its current price decline.