Why is Dai-ichi Karkari falling/rising?

As of 14-Jul, Dai-ichi Karkaria Ltd is experiencing a decline in its stock price, currently at Rs 354.65, which represents a decrease of Rs 12.85 or 3.5%. The stock has underperformed its sector by 2.89% today and has been on a consecutive downward trend for the last three days, resulting in a total decline of 6.67%. It has also touched an intraday low of Rs 353.2. Over the past week, the stock has fallen by 4.10%, and its year-to-date performance shows a decline of 9.90%. Despite these negative movements, the company has reported significant growth in net profit of 157.07% and has declared positive results for the last two consecutive quarters, indicating strong operational performance. However, the stock is trading below all major moving averages, which may contribute to bearish sentiment among investors.
In the broader market context, Dai-ichi Karkaria's recent performance contrasts sharply with the Sensex, which has gained 1.40% over the past month and 5.27% year-to-date. The stock's significant underperformance, particularly a staggering 49.69% decline over the past year compared to the Sensex's modest 2.15% gain, highlights a troubling trend. While the company has a low debt-to-equity ratio and is trading at a discount compared to its peers, the overall market sentiment appears to be weighing heavily on the stock, leading to its current decline despite positive financial indicators.