Why is Redtape falling/rising?

As of 17-Jul, Redtape Ltd's stock price is currently at 138.00, reflecting a decrease of -0.45 (-0.33%). The stock has underperformed its sector today by -1.29% and has experienced a consecutive decline over the last two days, resulting in a total drop of -0.61% during this period. In terms of returns, the stock has shown a slight decline of -0.07% over the past week, but it has increased by +6.89% over the last month. However, the year-to-date performance is concerning, with a significant drop of -36.82%. Factors contributing to this decline include a low return on capital employed (ROCE) of 17.1, which is considered expensive relative to its valuation, and a decrease in profit before tax (PBT) by -16.9% compared to the previous four-quarter average. Additionally, the stock has seen a 45% drop in delivery volume, indicating falling investor participation.
Broader market context shows that while Redtape has underperformed against the benchmark, the Sensex has declined by -1.12% over the past week, suggesting that the broader market is also facing challenges. However, Redtape's year-on-year return of -23.79% starkly contrasts with the Sensex's positive return of +1.91%, highlighting the company's consistent underperformance against the benchmark over the last three years. Despite some positive indicators such as high management efficiency and healthy long-term growth in net sales and operating profit, the overall sentiment remains negative due to the stock's inability to generate returns in line with market expectations.