Why is Balaji Amines falling/rising?

As of 11-Jul, Balaji Amines Ltd is experiencing a decline in its stock price, currently at 1,800.60, which reflects a decrease of 76.95 points or 4.1%. The stock has underperformed its sector by 2.75% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 4.68% during this period. The stock's performance over the past week shows a slight decline of 0.08%, while it has gained 21.09% over the past month. However, the company has faced challenges, including negative results for the last four consecutive quarters, with a significant drop in profit margins and a low return on capital employed (ROCE). Additionally, despite a recent increase in promoter confidence with a 0.92% stake increase, the overall financial health of the company remains a concern due to poor long-term growth metrics.
In the broader market context, Balaji Amines has underperformed against the benchmark Sensex, which has seen a decline of 1.12% over the past week. While the stock has shown some recovery over the past month, its year-to-date performance is modest at 1.10%, significantly lagging behind the Sensex's 5.58% gain. The consistent underperformance against the benchmark over the last three years, coupled with a substantial decline in profits and a high valuation compared to peers, suggests that investor sentiment may be cautious, contributing to the stock's recent price drop.