Why is Jai Balaji Inds. falling/rising?

As of 04-Jul, Jai Balaji Industries Ltd is experiencing a decline in its stock price, currently at Rs 126.00, which represents a decrease of Rs 3.25 or 2.51%. Today's performance indicates that the stock has underperformed its sector by 2.26%, with an intraday low of Rs 125.5. The stock has shown a significant decline over the past week, down 6.49%, and has generated a negative return of 31.50% over the past year. The company has faced challenges, including a 13.87% fall in net sales and negative results for the last two consecutive quarters, contributing to a perception of weakness in its financial health. Additionally, the pledge of 26.02% of promoter shares adds to the downward pressure on the stock price, particularly in a falling market.
In the broader market context, while the Sensex has shown a modest increase of 3.01% over the past month, Jai Balaji Industries has significantly lagged behind with a 20.11% increase over the same period, indicating a stark contrast in performance. The company's long-term growth potential is overshadowed by its recent financial struggles, including a 55.27% decline in profit before tax and a low inventory turnover ratio. Despite a healthy operating profit growth rate of 71.06%, the overall negative sentiment around the stock, combined with its underperformance relative to the market, suggests that investors are cautious, leading to the current decline in stock price.