Why is Bodal Chemicals falling/rising?

As of 28-Aug, Bodal Chemicals Ltd is experiencing a decline in its stock price, currently at Rs 64.24, which reflects a decrease of Rs 1.29 or 1.97%. The stock has been underperforming significantly, having fallen consecutively for the last five days with a total return of -6.51%. It is trading below all its moving averages, indicating a bearish trend. Additionally, the stock has underperformed its sector by 4.48% today. Despite reporting positive operating profit growth and strong net sales in recent quarters, the stock's long-term fundamentals are weak, highlighted by a high debt-to-EBITDA ratio and low domestic mutual fund interest, which suggests a lack of confidence among institutional investors.
In the broader market context, Bodal Chemicals has underperformed the benchmark Sensex, which has seen a decline of only 2.34% over the past week compared to the stock's drop of 4.89%. This consistent underperformance is evident over longer periods as well, with the stock down 22.78% over the past year while the Sensex has gained 2.48% year-to-date. The overall sentiment in the Dyes & Pigments sector appears to be more positive, as indicated by a 2.32% gain, contrasting with Bodal Chemicals' struggles. This divergence further emphasizes the challenges the company faces in regaining investor confidence and improving its market position.