Why is Dai-ichi Karkari falling/rising?

As of 22-Jul, Dai-ichi Karkaria Ltd is currently priced at 348.90, reflecting a decrease of 4.1 points or 1.16%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 6.2% during this period. Today's trading saw the stock reach an intraday low of Rs 342, and it is trading below all key moving averages, indicating a bearish trend. Additionally, investor participation has decreased significantly, with delivery volume dropping by 46.51% compared to the five-day average. Despite the company's impressive growth in net profit and positive results over the last two quarters, the stock's performance over the past year has been poor, with a return of -53.21%, which contrasts sharply with its rising profits.
In the broader market context, Dai-ichi Karkaria's short-term performance has been better than the benchmark Sensex over the past week, where the stock gained 1.42% compared to the Sensex's decline of 0.47%. However, over the longer term, the stock has significantly underperformed the Sensex, which has risen by 5.18% year-to-date. This disparity highlights the challenges the company faces despite its strong financial results, as the market sentiment remains cautious, reflected in the stock's declining price and reduced trading volume.