Why is Variman Global falling/rising?

As of 28-Aug, Variman Global Enterprises Ltd is experiencing a decline in its stock price, currently at 13.04, which represents a decrease of 0.24 or 1.81%. The stock has underperformed its sector today by 0.74%, and its delivery volume has dropped significantly, falling by 28.85% against the 5-day average. Over the past week, the stock has seen a substantial decline of 10.07%, and it has also underperformed the benchmark, the Sensex, which has only fallen by 2.34% during the same period. While the company reported a growth in net sales and operating profit, its long-term fundamental strength is weak, indicated by a low return on equity of 2.72% and a high price-to-book value ratio of 5.4, suggesting that the stock is trading at a premium compared to its peers.
In the broader market context, Variman Global's performance has been notably worse than the market, with a one-year return of -28.70% compared to the BSE500's decline of only -5.01%. This significant underperformance highlights investor concerns regarding the company's long-term growth potential, despite recent increases in profits. The stock's weak fundamentals, combined with falling investor participation and a high valuation relative to its historical averages, contribute to the negative sentiment surrounding Variman Global, leading to its current price decline.