Why is Refex Industries falling/rising?

As of 09-Sep, Refex Industries Ltd is experiencing a decline in its stock price, currently at Rs 347.45, which reflects a decrease of Rs 15.05 or 4.15%. The stock has hit a new 52-week low of Rs 334.1 today and has underperformed its sector by 3.58%. Over the past week, the stock has fallen by 5.22%, and it has shown a significant decline of 16.47% over the past month. The company has faced consecutive losses for the last three days, with a total drop of 6.07% during this period. Additionally, the stock is trading below all its moving averages, indicating a bearish trend. The company's recent financial performance has been troubling, with a notable fall in operating profit and net sales, contributing to a negative outlook among investors. In the broader market context, the Sensex has increased by 1.18% over the past week, contrasting sharply with Refex Industries' performance. This divergence highlights the stock's struggles relative to the overall market. The company's ability to service debt remains strong, with a low Debt to EBITDA ratio, and it has shown healthy long-term growth in net sales and operating profit. However, the recent negative results, including a significant drop in operating profit and net sales, have overshadowed these positives, leading to a lack of confidence among investors, as evidenced by the low participation from domestic mutual funds. This combination of factors has resulted in a bearish sentiment surrounding Refex Industries, contributing to its declining stock price.