Why is Jai Balaji Inds. falling/rising?

As of 23-Jul, Jai Balaji Industries Ltd is experiencing a decline in its stock price, currently at 118.40, reflecting a decrease of 1.55 or 1.29%. The stock has underperformed its sector by 1.52% today and has been on a downward trend for the last two days, with a total decline of 2.95% over that period. Despite a healthy long-term growth rate in operating profit of 71.06%, the company has faced significant challenges, including a 13.87% drop in net sales and negative results for the last two consecutive quarters. Additionally, the stock's valuation appears expensive with a high enterprise value to capital employed ratio, and 26.02% of promoter shares are pledged, which can exert further downward pressure in a falling market.
In the broader market context, the stock's performance over the past week shows a decline of 2.95%, while the benchmark Sensex has slightly increased by 0.11%. Over the past year, Jai Balaji Industries has underperformed significantly, generating a return of -28.24% compared to the market's positive return of 1.79%. This stark contrast highlights the stock's struggles in a generally improving market environment, further exacerbated by the company's recent financial difficulties and declining sales figures.