Why is Shivalik Rasayan falling/rising?

As of 29-Aug, Shivalik Rasayan Ltd is experiencing a decline in its stock price, currently at Rs. 460.55, reflecting a decrease of Rs. 2.45 or 0.53%. The stock has hit a new 52-week low of Rs. 458.05 today and has been on a downward trend, losing 10.22% over the past week. It has consistently underperformed, with a 1-month return of -20.11% and a year-to-date decline of -39.87%. The company's performance has been further impacted by poor management efficiency, as indicated by a low return on equity of 5.85%, and flat results reported in June, where profit after tax fell by 54.5%. Additionally, the stock is trading below all key moving averages, and there has been a notable decrease in investor participation, with delivery volume dropping by 11.15% against the 5-day average.
In the broader market context, Shivalik Rasayan's performance has been significantly worse than the benchmark, with a 1-week return of -7.26% compared to the Sensex's -1.84%. Over the last three years, the stock has consistently underperformed against the BSE500, with a return of -16.43% in the past year while the benchmark has gained 2.14% year-to-date. This consistent underperformance, combined with a lack of interest from domestic mutual funds, suggests a lack of confidence in the company's future growth prospects, contributing to the stock's current decline.