Why is Balaji Amines falling/rising?

As of 17-Nov, Balaji Amines Ltd's stock price is currently at 1,212.10, reflecting a decrease of 17.6 points or 1.43%. The stock has been on a downward trend, having underperformed its sector by 1.78% today and experiencing a consecutive fall for the last seven days, resulting in a total decline of 15.18% during this period. Over the past year, the stock has generated a return of -40.65%, significantly underperforming against the benchmark Sensex, which has risen by 9.50%. The company has reported negative results for the last six consecutive quarters, with a decline in operating profit and a low return on capital employed, contributing to its poor long-term growth outlook. Additionally, the stock is trading at a premium compared to its peers, which may deter investors.
In the broader market context, Balaji Amines has consistently underperformed against the benchmark over the last three years, with a staggering decline of 58.31% compared to the Sensex's growth of 37.57% during the same period. The recent trading activity indicates that while there is rising investor participation, the overall sentiment remains negative due to the company's financial struggles and low domestic mutual fund holdings, suggesting a lack of confidence in the stock's valuation. This combination of poor performance metrics and negative investor sentiment has led to the stock's continued decline.