Why is Balaji Amines falling/rising?

As of 04-Aug, Balaji Amines Ltd is experiencing a decline in its stock price, currently at Rs 1,563.55, which reflects a decrease of Rs 127.95 or 7.56%. The stock has underperformed its sector by 8.14% today and has been on a downward trend, losing 11.65% over the past two days. It reached an intraday low of Rs 1,554.90, indicating significant volatility with an intraday fluctuation of 5.03%. Over the past week, the stock has decreased by 5.93%, and it has shown a substantial decline of 35.91% over the past year. The company's financial performance has been poor, with negative results reported for the last five consecutive quarters, including a 29.88% decline in profit after tax. Additionally, the stock is trading at a premium compared to its peers, which, combined with low investor confidence reflected in minimal mutual fund holdings, contributes to its recent price movement.
In the broader market context, while the Sensex has shown a slight increase of 0.16% over the past week, Balaji Amines has significantly lagged behind, with a 13.23% decline over the past month compared to a 2.89% drop in the benchmark. This consistent underperformance against the benchmark over the last three years, alongside a lack of investor confidence and poor long-term growth prospects, has further exacerbated the stock's decline. The company's low debt-to-equity ratio may suggest financial stability, but the overall negative sentiment surrounding its profitability and valuation has led to its current downward trajectory.