Why is SPL Industries falling/rising?

As of 07-Jul, SPL Industries Ltd is currently priced at 43.69, reflecting a decline of 0.89 or 2.0%. The stock has been underperforming, having lost 5.84% over the last three days and consistently falling for that duration. In terms of returns, the stock has shown a modest increase of 0.21% over the past week, but it has significantly underperformed over the longer term, with a year-to-date decline of 27.07% and a one-year drop of 30.10%. The company's financial health is concerning, as it has reported negative results for the last two consecutive quarters, with net sales and operating profit showing substantial declines. Additionally, the stock is trading at a premium compared to its peers, despite its low return on equity of 4.7% and a price-to-book value of 0.6.
Broader market context indicates that while the Sensex has gained 1.53% over the past month, SPL Industries has outperformed the benchmark with a 16.97% increase in the same timeframe. However, the stock's overall performance remains weak, particularly in comparison to the broader market, where it has underperformed significantly over the last year. The falling investor participation, as evidenced by a drastic drop in delivery volume, further highlights the lack of confidence among investors. Overall, the combination of poor financial results, declining sales, and negative market sentiment contributes to the stock's current downward trajectory.