Why is Wendt India falling/rising?

As of 21-Jul, Wendt India Ltd's stock price is currently at 10,649.10, reflecting a decrease of 600.9 points or 5.34%. Today, the stock opened with a gain of 2.13% but experienced significant volatility, reaching an intraday high of Rs 13,000 before dropping to a low of Rs 10,200. The stock has underperformed its sector by 5.47% today, and over the past week, it has declined by 5.87%. Additionally, the company reported negative results for the quarter ending June 25, with a 61.7% drop in PAT and a 10.7% decline in net sales compared to the previous four-quarter average. Despite having a high return on equity (ROE) of 16.47% and a low debt-to-equity ratio, the stock's valuation appears expensive, trading at a price-to-book value of 8.7, which may deter investors.
In the broader market context, Wendt India's short-term performance has been notably weaker than the benchmark, with a 5.87% decline over the past week compared to a negligible 0.06% drop in the Sensex. The stock has also underperformed the BSE500 over the last year, generating a return of -29.71% while the benchmark has gained 1.98%. This underperformance, coupled with falling investor participation and high volatility, suggests a challenging environment for the stock, leading to its current downward trend.