Why is Jai Balaji Inds. falling/rising?

As of 15-Jul, Jai Balaji Industries Ltd is experiencing a decline in its stock price, currently at 121.85, reflecting a decrease of 0.55 or 0.45%. The stock has underperformed its sector today by 0.52%, and while it is trading higher than its 20-day and 50-day moving averages, it is below its 5-day, 100-day, and 200-day moving averages. The stock has seen a significant drop in investor participation, with delivery volume falling by 64.54% against the 5-day average. Over the past year, the stock has generated a return of -28.77%, while its profits have decreased by 36.6%. The company has reported negative results for the last two consecutive quarters, with a notable fall in net sales by 13.87%, contributing to a negative sentiment surrounding the stock.
In the broader market context, the stock has underperformed compared to the benchmark, with the Sensex showing a return of 1.79% over the past month, while Jai Balaji Industries has increased by 19.93% in the same period. However, the year-to-date performance shows a stark contrast, with the stock down by 32.33% compared to the Sensex's gain of 5.67%. The high percentage of pledged promoter shares (26.02%) adds to the downward pressure in a falling market, further exacerbating the stock's challenges. Despite the company's long-term growth potential, indicated by a healthy operating profit growth rate of 71.06%, the immediate outlook remains negative due to declining sales and profitability, leading to a cautious investor sentiment.