Why is VMS Industries falling/rising?

As of 12-Aug, VMS Industries Ltd is experiencing a decline in its stock price, currently at 34.89, reflecting a decrease of -0.31 or -0.88%. The stock has been losing value for the last two days, with a total drop of -2.13% during this period. Over the past week, the stock has underperformed, showing a return of -2.24%, while its one-month performance is even more concerning at -8.90%. Despite having a relatively attractive valuation with a Price to Book Value of 0.9 and a return on equity (ROE) of 7.4, the stock's performance has been negatively impacted by weak long-term fundamentals, including a low average ROE of 3.60% and poor growth in net sales. Additionally, the company's recent financial results have shown significant declines, such as a -62.40% drop in net sales for the quarter.
In the broader market context, VMS Industries has significantly underperformed compared to the benchmark, with a one-year return of -46.58% against the BSE500's -2.11%. This stark contrast highlights the stock's struggles relative to the market. Furthermore, the stock's liquidity appears to be declining, with a 25.04% drop in delivery volume compared to the five-day average, indicating falling investor participation. The presence of pledged promoter shares, which constitute 53% of the total, adds further downward pressure in a declining market, contributing to the stock's overall negative sentiment.