Why is Refex Industries falling/rising?

As of 18-Sep, Refex Industries Ltd is experiencing a decline in its stock price, currently at Rs 349.30, which reflects a decrease of Rs 7.4 or 2.07%. The stock has underperformed the sector today by 1.79% and has been on a downward trend for the last two days, accumulating a total loss of 2.24%. Additionally, the stock is trading close to its 52-week low, just 4.35% above Rs 334.1. Over the past week, the stock has decreased by 1.34%, and its year-to-date performance shows a significant decline of 27.60%. The company has reported negative results in recent quarters, including a fall in operating profit and a low operating cash flow, which contribute to its weak performance. Despite having a strong ability to service debt and healthy long-term growth in net sales, the stock's valuation appears expensive relative to its earnings. In the broader market context, Refex Industries has underperformed compared to the Sensex, which has gained 1.80% over the past week while Refex has lost 1.34%. The stock's performance over the last year shows a decline of 24.07%, significantly worse than the market's negative return of 1.96%. This disparity indicates a lack of investor confidence, as evidenced by the low participation from domestic mutual funds, which hold only 0.32% of the company. The market's favorable conditions contrast sharply with the company's struggles, highlighting the challenges Refex Industries faces in regaining investor trust and improving its stock performance.