Why is Jagatjit Inds. falling/rising?

As of 07-Nov, Jagatjit Industries Ltd is experiencing a decline in its stock price, currently at Rs 188.10, which represents a decrease of Rs 2.85 or 1.49%. The stock has been underperforming, having fallen for the last three days with a total decline of 3.29% during this period. Although it opened with a gain of 2.02% today, it reached an intraday high of Rs 194.8 before dropping to a low of Rs 185. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, while there has been a slight increase in delivery volume, the overall performance remains weak, as evidenced by its year-to-date decline of 21.63% compared to a 6.50% gain in the Sensex.
In the broader market context, Jagatjit Industries Ltd's short-term performance has been notably worse than the benchmark, with a 1-week return of -2.64% compared to the Sensex's -0.86%. This underperformance highlights the stock's struggle in a generally stable market environment. Despite the recent increase in investor participation, the stock's liquidity remains limited, and the overall sentiment appears negative, contributing to its ongoing decline. The absence of any positive factors further exacerbates the situation, leaving the stock vulnerable to continued downward pressure.