Why is Vinati Organics falling/rising?

As of 22-Sep, Vinati Organics Ltd is experiencing a decline in its stock price, currently at Rs 1,702.00, which reflects a decrease of Rs 29.9 or 1.73%. The stock has underperformed its sector by 0.9% today and has seen a trend reversal after two consecutive days of gains. It touched an intraday low of Rs 1,687.75, marking a 2.55% drop. Over the past week, the stock has decreased by 1.18%, while it has shown a modest gain of 1.67% over the past month. However, its year-to-date performance is concerning, with a decline of 5.44%, and a significant drop of 12.79% over the past year. The company has high management efficiency with a return on equity (ROE) of 16.68% and a low debt-to-equity ratio of 0.01, but it faces challenges such as poor long-term growth and a very expensive valuation relative to its peers.
Broader market context indicates that while the Sensex has gained 0.46% over the past week and 1.05% over the past month, Vinati Organics has consistently underperformed against the benchmark, with a notable decline of 19.91% over the last three years compared to a 38.97% gain in the broader market. This consistent underperformance, coupled with flat results in recent financial periods and a high price-to-book value ratio, suggests that investors are losing confidence in the stock's growth potential. The falling investor participation, as evidenced by a decrease in delivery volume, further indicates a lack of interest in the stock, contributing to its downward price movement.