Why is Rolex Rings falling/rising?

As of 11-Aug, Rolex Rings Ltd is experiencing a decline in its stock price, currently at Rs 1,378.70, which reflects a decrease of Rs 28.5 or 2.03%. The stock has underperformed its sector by 3.35% today and has seen a trend reversal after two consecutive days of gains. It touched an intraday low of Rs 1,375.35, indicating a downward movement of 2.26%. Over the past week, the stock has decreased by 1.88%, and its performance over the past month shows a significant decline of 9.56%. Despite some positive factors such as high management efficiency and strong debt servicing ability, the stock's valuation appears expensive with a Price to Book Value of 3.5, and it has underperformed the market significantly over the past year, generating a return of -40.61%.
In the broader market context, the Sensex has shown a slight decline of 0.51% over the past week, while Rolex Rings has fallen more sharply. The stock's performance is notably worse than the market's overall return of -1.85% over the last year, highlighting its struggles in comparison to the benchmark. Additionally, the stock's liquidity is adequate, but falling investor participation, as evidenced by a 31.25% drop in delivery volume, suggests waning interest among investors. Overall, the combination of poor recent performance, high valuation concerns, and declining investor engagement contributes to the stock's downward trajectory.