Why is Refex Industries falling/rising?

As of 20-Aug, Refex Industries Ltd is experiencing a decline in its stock price, currently at 382.50, which reflects a decrease of 0.9 or 0.23%. The stock has shown a trend reversal, falling after two consecutive days of gains. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 53.46% compared to the 5-day average. Although the company has demonstrated strong long-term growth with a 29.75% annual increase in net sales and a low Debt to EBITDA ratio of 0.67, recent negative results, including a 3.96% fall in operating profit and a decline in PAT, have contributed to the stock's downward movement.
In the broader market context, Refex Industries has underperformed compared to the Sensex, with a 1-week return of 0.26% against the benchmark's 1.64%. While the stock has generated a substantial return of 40.19% over the past year, it has also faced challenges, including four consecutive quarters of negative results and a low operating cash flow. The relatively low stake held by domestic mutual funds, at only 0.32%, may indicate a lack of confidence in the stock's current valuation, further impacting its price movement. Overall, the combination of recent poor financial performance and declining investor interest has led to the stock's current decline.