Why is Sonal Mercantile falling/rising?

As of 14-Nov, Sonal Mercantile Ltd is experiencing a decline in its stock price, currently at Rs. 80.61, which reflects a decrease of Rs. 13.76 or 14.58%. The stock has hit a new 52-week low of Rs. 78 today and has underperformed its sector by 15.34%. Over the past two days, the stock has consecutively fallen, resulting in a total decline of 16.42%. Additionally, the stock has shown significant underperformance over various periods, with a year-to-date decline of 30.81% compared to the Sensex, which has gained 8.22%. The stock is trading below all its moving averages, indicating a bearish trend, while high volatility and a wide trading range further characterize its recent performance. There is a notable increase in investor participation, with delivery volume rising significantly, suggesting some interest despite the overall negative sentiment.
Broader Market Context: In the short term, Sonal Mercantile's performance has been starkly contrasted by the benchmark Sensex, which has gained 1.62% over the past week while the stock has dropped 12.85%. This disparity highlights the stock's struggles relative to the broader market, reflecting investor concerns and a lack of confidence in its performance. The significant decline in the stock price, coupled with its underperformance against the benchmark and sector, suggests that market participants are reacting negatively to recent developments, leading to a bearish outlook for Sonal Mercantile Ltd.