Why is Rolex Rings falling/rising?

As of 04-Sep, Rolex Rings Ltd is experiencing a decline in its stock price, currently at 1,395.00, reflecting a decrease of 6.0 points or 0.43%. Today's price summary indicates that the stock opened with a gain of 3.39% and reached an intraday high of Rs 1,448.45, but has since fallen after three consecutive days of gains. Despite outperforming its sector by 0.37%, the stock's performance over the past month shows a decline of 0.72%, and it has significantly underperformed the benchmark indices, with a year-to-date drop of 24.47%. The company's financials reveal a high management efficiency with a return on equity (ROE) of 22.12% and a low debt-to-EBITDA ratio of 0.27, yet it faces challenges such as poor long-term growth and a high price-to-book value ratio, which may contribute to investor hesitation.
In the broader market context, the stock's short-term performance of +0.36% over the past week is notably lower than the Sensex's gain of +0.80%, indicating a relative underperformance. Additionally, the stock's long-term returns are concerning, with a staggering -45.61% return over the past year compared to a modest -1.98% for the Sensex. This underperformance, coupled with a significant drop in investor participation and a decline in delivery volume by 54.05%, suggests a lack of confidence among investors. Overall, while there are some positive indicators regarding management efficiency and institutional holdings, the negative factors surrounding growth and valuation are likely driving the stock's recent decline.