Why is Jai Balaji Inds. falling/rising?

As of 16-Jul, Jai Balaji Industries Ltd is currently priced at 122.00, reflecting a slight increase of 0.15 (0.12%). The stock has shown a mixed performance recently, with a 1-week return of -0.04% while outperforming its sector by 0.62% today. Over the past month, the stock has risen significantly by 14.39%, contrasting with its year-to-date decline of 32.24%. Despite the positive short-term movement, the company faces challenges, including a substantial drop in net sales by 13.87% and negative results reported for the last two consecutive quarters. Additionally, the inventory turnover ratio is at its lowest, and the stock is trading at a high valuation relative to its capital employed, which may deter investors.
In the broader market context, the stock has underperformed compared to the benchmark, with a 1-year return of -27.44% against a market return of 0.47%. This underperformance is compounded by the fact that 26.02% of promoter shares are pledged, which can exert additional downward pressure in a declining market. While the stock has shown some resilience in the short term, the overall negative financial indicators and high valuation concerns suggest that the stock may continue to struggle against broader market trends.