Why is Balaxi Pharma falling/rising?

As of 24-Sep, Balaxi Pharmaceuticals Ltd is currently priced at 44.96, reflecting a slight increase of 0.12 (0.27%). Despite this minor uptick, the stock has shown a significant decline over various periods, with a one-year return of -58.94% and a year-to-date decline of -37.82%. Today's performance indicates that the stock has outperformed its sector by 0.36%, although it is trading below all key moving averages, suggesting a bearish trend. The company has strong long-term fundamentals, evidenced by an average Return on Equity (ROE) of 30.97% and a favorable Price to Book Value ratio of 1.1, yet it has faced negative financial results, including a 49.69% decline in profit after tax over the last nine months and a significant drop in institutional investor participation.
In the broader market context, Balaxi Pharmaceuticals has underperformed against the Sensex, which has gained 5.97% year-to-date, while Balaxi has lost 37.82%. The stock's performance over the last week and month has also been negative, with returns of -2.68% and -3.87%, respectively, compared to the Sensex's -1.08% and +0.75%. This consistent underperformance, coupled with a decline in institutional investor stakes, indicates a lack of confidence in the stock's future prospects, further contributing to its overall downward trajectory in the market.