Why is Balaji Amines falling/rising?

As of 11-Nov, Balaji Amines Ltd's stock price is currently at Rs 1,293.00, reflecting a decline of Rs 79.65 or 5.8%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total drop of 9.52% during this period. It has also underperformed its sector by 6.33% today. The stock is trading below all its moving averages, indicating a bearish trend. Over the past year, Balaji Amines has generated a return of -37.05%, with a concerning drop in profits of 22.1%. Despite a low debt-to-equity ratio, the company has shown poor long-term growth, with net sales increasing at only 7.93% annually over the last five years, and operating profit growth stagnating at 0.89%. The recent quarterly results also revealed a decline in profit after tax by 9.2%, further contributing to negative sentiment around the stock.
In the broader market context, Balaji Amines' short-term performance has significantly lagged behind the benchmark, with a 1-week return of -8.00% compared to the Sensex's gain of 0.49%. This consistent underperformance over the last three years, coupled with a low stake from domestic mutual funds, suggests a lack of confidence in the stock's valuation and future prospects. The stock's premium valuation relative to its peers, indicated by a price-to-book value of 2.4, adds to the pressure, as investors may be hesitant to buy into a company with flat growth and declining profits. Overall, the combination of poor financial performance, negative market sentiment, and underwhelming investor interest has contributed to the stock's recent decline.