Why is Jai Balaji Inds. falling/rising?

As of 17-Jul, Jai Balaji Industries Ltd is experiencing a decline in its stock price, currently at 120.90, which reflects a decrease of 1.1 or 0.9%. The stock has underperformed its sector by 1.37% today, and while it is trading higher than its 20-day and 50-day moving averages, it remains below its 5-day, 100-day, and 200-day moving averages. Over the past week, the stock has seen a slight decline of 0.82%, contrasting with a significant increase of 15.92% over the past month. However, the company has reported negative results for the last two consecutive quarters, with a notable drop in net sales of 13.87%, which has contributed to a year-to-date decline of 32.86%. Additionally, the high percentage of pledged promoter shares (26.02%) adds downward pressure in a falling market, further impacting investor sentiment.
In the broader market context, the stock has underperformed compared to the benchmark, with the BSE500 generating a return of 0.26% over the past year while Jai Balaji Industries Ltd has seen a substantial decline of 28.09%. Despite a healthy long-term growth rate in operating profit, the company's recent financial struggles, including a low inventory turnover ratio and a significant fall in profits, have overshadowed these positives. The liquidity of the stock remains adequate, with a delivery volume increase of 7.34% against the 5-day average, but the overall negative financial outlook and underperformance relative to the market continue to weigh heavily on the stock's price movement.