Why is Vinati Organics falling/rising?

As of 07-Aug, Vinati Organics Ltd's stock price is currently at Rs 1,715.00, reflecting a decline of Rs 15.35 or 0.89%. The stock has been on a downward trend, losing value for the last six consecutive days, with a total drop of 7.57% during this period. It has underperformed significantly over various time frames, including a 24.81% decline over the past year and a 15.10% drop in the last month. The stock is trading below its moving averages across multiple time frames, indicating a bearish trend. Despite the company showcasing high management efficiency with a return on equity (ROE) of 16.68% and low debt levels, the long-term growth prospects appear poor, with operating profit growth averaging only 12.30% over the last five years. The stock's valuation is considered expensive relative to its peers, further contributing to its recent price decline.
In the broader market context, Vinati Organics has underperformed against the benchmark, with a 1-week return of -6.08% compared to the Sensex's -0.69%. This consistent underperformance over the last three years, along with a significant decline in investor participation—evidenced by a 21.96% drop in delivery volume—suggests a lack of confidence among investors. While the stock's liquidity remains adequate for trading, the overall sentiment appears negative, driven by its historical performance and valuation concerns.