Why is Tarmat falling/rising?

As of 22-Jul, Tarmat Ltd's stock price is currently at 59.10, reflecting a decrease of 0.3, or 0.51%. The stock has been experiencing a downward trend, having lost 4.45% over the last two days. Despite a positive performance in the past month with a return of 9.75%, the stock has significantly underperformed year-to-date with a decline of 23.48%. The company's recent financial results showed strong net sales growth of 82.74% and the highest cash and cash equivalents recorded at Rs 9.83 crore, but it also faces challenges such as a weak long-term fundamental strength indicated by a -32.56% CAGR growth in operating profits over the last five years and a low return on equity of 3.89%. These factors contribute to a perception of the stock as a strong sell, particularly given its high valuation compared to peers.
In the broader market context, Tarmat's short-term return of 0.12% over the past week is slightly better than the benchmark Sensex, which has declined by 0.47%. However, the stock's year-long performance has been considerably worse than the market, with a return of -23.23% compared to the Sensex's positive return of 2.09%. This underperformance, combined with falling investor participation and liquidity concerns, suggests a lack of confidence among investors, further contributing to the stock's recent decline.