Why is Thermax falling/rising?

As of 12-Nov, Thermax Ltd. is experiencing a decline in its stock price, currently at Rs 3,060.85, which reflects a decrease of Rs 108.15 or 3.41%. The stock has underperformed significantly, with a 1-week return of -6.09% and a 1-month return of -5.03%. Today's trading saw the stock open with a loss of 3%, reaching an intraday low of Rs 2,986, which is 4.27% away from its 52-week low. Additionally, the stock is trading below all key moving averages and has seen a drop in investor participation, with delivery volume falling by 28.04% compared to the 5-day average. While the company has a low debt-to-equity ratio and healthy long-term growth in operating profit, negative results reported in September, including a 39.3% decline in PAT and a low return on capital employed, have contributed to the stock's poor performance.
In the broader market context, Thermax's performance contrasts sharply with the Sensex, which has gained 1.21% over the past week. The stock's year-to-date return of -24.83% also significantly lags behind the Sensex's 8.10% gain. This underperformance is compounded by the company's recent negative financial results and a high price-to-book value ratio, indicating that the stock may be overvalued compared to its peers. Overall, the combination of disappointing earnings, declining investor interest, and a lack of positive momentum in the stock price has led to its current downward trend.