Why is Balaji Amines falling/rising?

As of 28-Aug, Balaji Amines Ltd is experiencing a decline in its stock price, currently at Rs 1,475.50, which reflects a decrease of Rs 43.55 or 2.87%. The stock has underperformed its sector today by 1.18% and has been on a downward trend for the last two days, accumulating a total loss of 5.36% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. The company has reported negative results for the last five consecutive quarters, with a significant decline in profits and a very expensive valuation compared to its peers, contributing to the stock's poor performance. Furthermore, the low investor participation, as evidenced by a decrease in delivery volume, suggests a lack of confidence among investors.
In the broader market context, Balaji Amines has underperformed against the benchmark, with a 1-week return of -5.48% compared to the Sensex's -2.34%, and a year-to-date return of -17.15% against the Sensex's positive 2.48%. This consistent underperformance over the last three years, coupled with a significant drop in returns and profits, indicates that the stock is struggling to attract investor interest. The low stake held by domestic mutual funds further highlights the market's skepticism regarding the company's future growth prospects. Overall, the combination of poor financial performance, negative investor sentiment, and underwhelming market returns has led to the stock's decline.