Why is Shivalik Rasayan falling/rising?

As of 22-Sep, Shivalik Rasayan Ltd is experiencing a decline in its stock price, currently at 473.80, which reflects a decrease of 2.35 or 0.49%. The stock has been underperforming, having fallen consecutively for the last three days with a total decline of 2.61%. In the past week, the stock has decreased by 1.93%, and over the last month, it has dropped by 4.59%. Despite a low Debt to Equity ratio of 0.08 and a relatively attractive valuation with a PEG ratio of 2, the company has shown poor management efficiency with a low Return on Equity of 5.85%. Additionally, the company's net sales growth has been modest at 12.67% annually over the last five years, and recent financial results indicate a significant drop in profit after tax by 54.5%, contributing to negative sentiment around the stock.
Broader market context shows that while Shivalik Rasayan has been declining, the benchmark Sensex has gained 0.46% over the past week. The stock's year-to-date performance is particularly concerning, with a decline of 38.14% compared to a 5.15% increase in the benchmark. This consistent underperformance against the broader market, coupled with a lack of interest from domestic mutual funds, suggests that investor confidence is waning. The falling delivery volume and liquidity issues further highlight the challenges the stock faces in attracting buyers, reinforcing the negative outlook for Shivalik Rasayan Ltd.