Why is Regis Industries falling/rising?

As of 29-Jul, Regis Industries Ltd is experiencing a decline in its stock price, currently at 10.23, which reflects a decrease of 0.56 or 5.19%. The stock has underperformed its sector today by 5.65% and has fallen after four consecutive days of gains. In terms of performance, the stock has shown a return of +11.80% over the past week, but it has declined by 7.00% over the last month and has a year-to-date return of -36.06%. Despite positive quarterly results, including the highest PBDIT and PAT figures, the stock's long-term fundamental strength is weak, evidenced by a low Return on Equity (ROE) of 0.07% and a high Price to Book Value ratio of 7.1, indicating an expensive valuation relative to its peers.
In the broader market context, the stock has significantly underperformed compared to the benchmark, with a one-year return of -29.45% against the BSE500's negative return of -2.26%. This stark contrast highlights the stock's struggles despite a rising investor participation, as indicated by a 16.37% increase in delivery volume. The stock's liquidity remains adequate for trading, but the overall market sentiment appears to be unfavorable, contributing to the stock's downward trajectory.