Why is Refex Industries falling/rising?

As of 13-Aug, Refex Industries Ltd is experiencing a decline in its stock price, currently at Rs 381.50, which reflects a decrease of Rs 30.9 or 7.49%. The stock opened significantly lower today, with a loss of 13.91%, and reached an intraday low of Rs 355.05. It has underperformed its sector by 6.59% today. Over the past week, the stock has declined by 10.20%, and on a year-to-date basis, it has fallen by 20.92%. Despite a strong long-term growth trajectory with net sales increasing at an annual rate of 29.75%, the company reported negative results in June, including a 3.96% drop in operating profit and a significant decline in profit after tax, which has contributed to the stock's recent poor performance. In the broader market context, the Sensex has remained relatively stable, with a negligible change of -0.01% over the past week, contrasting sharply with Refex Industries' significant decline. While the stock has generated a return of 38.73% over the past year, its recent performance indicates a troubling trend, particularly with four consecutive quarters of negative results. The low debt-to-EBITDA ratio suggests some financial stability, yet the stock's expensive valuation and minimal domestic mutual fund interest may reflect broader investor concerns about its future prospects. Overall, the combination of disappointing financial results and a lack of confidence from institutional investors has led to the stock's downward movement.