Why is Balaxi Pharma falling/rising?

As of 23-Sep, Balaxi Pharmaceuticals Ltd is experiencing a decline in its stock price, currently at 44.84, which reflects a decrease of 2.17 or 4.62%. The stock has underperformed its sector by 4.95% today and is trading below all its moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Over the past week, the stock has dropped by 2.63%, and it has shown a significant decline of 37.99% year-to-date and 59.94% over the past year. The company's profits have also fallen sharply, with a 49.8% decrease, and institutional investors have reduced their stake by 7.16%, indicating a lack of confidence in the stock's performance.
In the broader market context, Balaxi Pharmaceuticals has consistently underperformed against the benchmark, with a 1-year return of -59.94% compared to a -2.97% return for the Sensex. This underperformance has been evident over the last three years, where the stock has lagged behind the BSE500 in each annual period. The negative financial results reported for June, including a 70.93% drop in profit before tax and a 95.5% decline in profit after tax, further exacerbate the stock's challenges. Despite having a strong long-term fundamental strength with an average return on equity of 30.97%, the recent trends in falling investor participation and consistent losses have contributed to the stock's downward trajectory.