Why is Electrost.Cast. falling/rising?

As of 01-Aug, Electrosteel Castings Ltd is experiencing a decline in its stock price, currently at Rs 108.55, which reflects a decrease of Rs 2.35 or 2.12%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 5.2% during this period. Additionally, the stock has underperformed its sector by 0.65% today. Over the past week, it has decreased by 6.18%, and in the last month, it has seen a significant drop of 15.62%. The stock is trading below all major moving averages, indicating a bearish trend. Furthermore, the company has reported negative results in recent quarters, with a 12.38% fall in EPS and a 10.8% decline in net sales, which has contributed to the negative sentiment surrounding the stock.
In the broader market context, while the Sensex has only declined by 1.06% over the past week and 3.70% over the past month, Electrosteel Castings Ltd's performance has been considerably worse, highlighting its struggles relative to the market. The stock's year-to-date return is down 21.71%, contrasting sharply with the Sensex's positive return of 3.15%. This stark difference in performance suggests that investor confidence in Electrosteel Castings Ltd is waning, particularly given its high institutional holdings of 20.71%, which typically indicate a more informed investor base. The combination of poor financial results, declining sales, and negative market sentiment has led to the stock's current downward trajectory.