Why is I G Petrochems falling/rising?

As of 22-Sep, I G Petrochemicals Ltd is experiencing a decline in its stock price, currently at Rs 428.90, down by Rs 15.15 or 3.41%. The stock has underperformed its sector by 2.58% today, reaching an intraday low of Rs 425.05, which represents a decrease of 4.28%. Over the past week, the stock has seen a return of -2.04%, and it has significantly underperformed against the benchmark Sensex, which has gained 0.46%. The company's performance has been lackluster, with a year-to-date decline of 23.14% compared to a 5.15% increase in the Sensex. Additionally, the stock is trading below all its moving averages, indicating a bearish trend. Despite a low debt-to-equity ratio and an attractive valuation with a PEG ratio of 0.4, the stock's negative performance is compounded by a significant drop in net sales and a poor long-term growth outlook, with operating profit declining at an annual rate of 20.97% over the last five years.
In the broader market context, I G Petrochemicals Ltd's recent performance reflects a consistent underperformance against the benchmark indices, having generated a return of -30.15% over the past year while the Sensex has only decreased by 2.82%. This stark contrast highlights the company's struggles, particularly as domestic mutual funds hold no stake in the company, suggesting a lack of confidence in its future prospects. The overall market sentiment appears to be unfavorable for I G Petrochemicals, as evidenced by falling investor participation and negative quarterly results, which further contribute to the stock's downward trajectory.