Why is Jai Balaji Inds. falling/rising?

As of 27-Jun, Jai Balaji Industries Ltd is experiencing a price increase, currently at Rs 134.75, reflecting a rise of 1.75 or 1.32%. The stock has shown strong performance recently, gaining 32.82% over the last three days and outperforming its sector by 1.5% today. It opened with a gain of 3.27% and reached an intraday high of Rs 139. Despite this positive momentum, the company has faced challenges, including a significant decline in net sales of 13.87% and negative results over the last two quarters. The stock's long-term growth potential is supported by a healthy operating profit growth rate of 71.06%, but the high percentage of pledged promoter shares (26.02%) and the low inventory turnover ratio may contribute to downward pressure on the stock.
Broader market context indicates that while Jai Balaji Industries has outperformed the Sensex in the short term, with a 33.55% return over the past week compared to the Sensex's 2.00%, it has significantly underperformed over the longer term, with a year-to-date decline of 25.16% against the Sensex's 7.58% gain. This disparity highlights the stock's volatility and the challenges it faces in recovering from its recent negative performance. The broader market has shown resilience, but Jai Balaji's struggles with profitability and sales may hinder its ability to maintain this upward trajectory in the face of broader market trends.