Why is Jai Balaji Inds. falling/rising?

As of 11-Jul, Jai Balaji Industries Ltd is experiencing a decline in its stock price, currently at 121.15, which reflects a decrease of 0.75 or 0.62%. The stock has been on a downward trend, having lost 4.64% over the last four days, and it is currently trading below its 5-day, 100-day, and 200-day moving averages, although it remains above the 20-day and 50-day moving averages. The company has reported negative results for the last two consecutive quarters, with a significant drop in net sales by 13.87% and a 72.3% fall in profit after tax. Additionally, the pledge of 26.02% of promoter shares adds to the downward pressure on the stock, particularly in a falling market.
In the broader market context, the stock has underperformed compared to the benchmark, with a 1-week return of -3.85% against the Sensex's -1.12%. Over the past year, while the market has generated a return of 3.26%, Jai Balaji Industries has seen a substantial decline of 30.53%. This stark contrast highlights the company's struggles, particularly in light of its falling investor participation, as evidenced by a 58.6% drop in delivery volume compared to the 5-day average. Despite the company's long-term growth potential, as indicated by a healthy operating profit growth rate, the immediate outlook remains negative due to recent financial performance and market conditions.