Why is Rish.Digh.Steel falling/rising?

As of 07-Aug, Rishabh Digha Steel & Allied Products Ltd is experiencing a decline in its stock price, currently at Rs 34.99, which reflects a decrease of 2.02 or 5.46%. The stock has been underperforming, having fallen consecutively for the last two days with a total return of -5.69% during this period. Despite opening with a gain of 4.97% today and reaching an intraday high of Rs 38.85, it also touched a low of Rs 33.2, indicating high volatility with an intraday fluctuation of 7.83%. The stock has underperformed its sector by 5.72% today and has shown negative returns over various periods, including a 14.87% decline over the past month and a 13.63% drop over the past year. Additionally, the stock is trading below all its moving averages, and there has been a decrease in investor participation, with delivery volume falling by 5.9% compared to the five-day average.
In the broader market context, the stock's short-term performance is notably worse than the benchmark, with a one-week return of -9.82% compared to the Sensex's -0.69%. This significant underperformance highlights the challenges faced by Rishabh Digha Steel amidst a generally stable market environment. While the benchmark has shown positive returns year-to-date at +3.18%, Rishabh Digha Steel has declined by 8.48% in the same timeframe, further emphasizing its struggles relative to the market. The combination of high volatility, declining investor interest, and consistent underperformance against both sector and benchmark indices contributes to the current downward trend in the stock price.