Why is Spectrum Electr. falling/rising?

As of 09-Sep, Spectrum Electrical Industries Ltd is experiencing a decline in its stock price, currently at Rs 1,380.00, which reflects a decrease of Rs 43.15 or 3.03%. The stock has underperformed its sector by 2.93% today and has been on a downward trend for the past two days, accumulating a total loss of 4.78%. Although the stock opened with a significant gain of 15.8% and reached an intraday high of Rs 1,647.95, it also faced a substantial drop to a low of Rs 1,201, indicating high volatility with an intraday fluctuation of 17.21%. The recent financial performance has raised concerns, particularly with net sales falling by 23.4% compared to the previous four-quarter average and a notable decline in profit before tax by 47.3%. Additionally, the company's valuation appears expensive with a PEG ratio of 3.5, and the lack of domestic mutual fund investment suggests a lack of confidence in the stock at its current price.
In the broader market context, the stock's performance over the past week shows a decline of 5.48%, while the benchmark Sensex has increased by 1.18%, highlighting a significant underperformance relative to the market. The stock's year-to-date performance is not available, but its one-month return is down by 6.92%, contrasting sharply with the Sensex's gain of 1.56%. This disparity indicates that investor sentiment towards Spectrum Electrical is weak, compounded by falling investor participation and trading volumes. Overall, the combination of disappointing financial results, high volatility, and a lack of institutional support contributes to the stock's current downward trajectory.