Why is Regis Industries falling/rising?

As of 20-Aug, Regis Industries Ltd is experiencing a decline in its stock price, currently at Rs. 8.30, reflecting a decrease of -0.25 or -2.92%. The stock has underperformed significantly, with a 52-week low of Rs. 8.28 hit today. Over the past week, the stock has fallen by 5.79%, and in the last month, it has dropped by 19.34%. Additionally, it is trading below all major moving averages, indicating a bearish trend. Despite reporting positive quarterly results with a substantial growth in profit after tax and other financial metrics, the stock's long-term fundamental strength is weak, highlighted by a low return on equity of 0.07% and a high price-to-book value ratio of 5.4, suggesting it is overvalued compared to its peers.
In the broader market context, the Sensex has shown a positive return of 1.64% over the past week and a slight increase of 0.12% over the last month, contrasting sharply with Regis Industries' performance. The stock has underperformed the market significantly over the past year, with a return of -44.83% compared to the BSE500's decline of only -1.20%. This stark difference indicates that investor sentiment towards Regis Industries is particularly negative, compounded by a drastic fall in investor participation, with delivery volumes plummeting by 83.89% against the five-day average.