Why is Regis Industries falling/rising?

As of 31-Jul, Regis Industries Ltd is experiencing a decline in its stock price, currently at 9.66, which reflects a decrease of 0.35 or 3.5%. The stock has been underperforming, having fallen for three consecutive days, resulting in a total decline of 10.29% during this period. Additionally, it is trading below all key moving averages, indicating a bearish trend. The stock's performance over the past month shows a significant drop of 8.87%, while its year-to-date return is a staggering -39.62%. Despite reporting positive quarterly results with substantial increases in PBDIT, PBT, and PAT, the company faces challenges with weak long-term fundamentals, as evidenced by a low return on equity (ROE) of 0.07% and a high price-to-book value ratio of 6.3, which suggests an expensive valuation relative to its peers.
In the broader market context, Regis Industries has underperformed compared to the Sensex, which has shown a slight decline of 1.22% over the past week, while Regis has gained 3.54% in the same timeframe. However, the stock's longer-term performance is concerning, with a one-year return of -33.86% compared to the market's -3.20%. This stark contrast highlights the stock's struggles, particularly as it has not only fallen more sharply than the market but also has seen a significant drop in investor participation, with delivery volumes decreasing by 73.87% against the five-day average. Overall, these factors contribute to a negative outlook for Regis Industries in the current market environment.