Why is Refex Industries falling/rising?

As of 13-Nov, Refex Industries Ltd is experiencing a decline in its stock price, currently at Rs 352.50, which represents a decrease of Rs 6.65 or 1.85%. The stock has underperformed its sector by 1.09% today, having touched an intraday low of Rs 351. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Over the past week, Refex Industries has seen a decline of 4.43%, and its year-to-date performance shows a significant drop of 26.94%. Despite a strong ability to service debt and healthy long-term growth in operating profit, the company has faced challenges, including flat results in its latest financial report and a substantial decline in net sales over the past six months.
In the broader market context, the Sensex has increased by 1.40% over the past week and has generated returns of 8.11% year-to-date, highlighting a stark contrast to Refex Industries' performance. The stock's negative returns of 27.32% over the past year further emphasize its underperformance compared to the market, which has seen positive growth. This disparity is compounded by a low delivery volume, which has fallen significantly, indicating reduced investor interest. Overall, while the company has some positive attributes, the recent financial struggles and poor market performance have contributed to the stock's decline.