Why is Jai Balaji Inds. falling/rising?

As of 24-Jul, Jai Balaji Industries Ltd's stock price is currently at 120.55, reflecting an increase of 2.15 (1.82%). The stock has shown a positive movement today, gaining after two consecutive days of decline and opening with a gain of 2.91%. It outperformed its sector by 1.49% and reached an intraday high of Rs 121.85. However, despite this short-term gain, the stock has underperformed over the past year, with a return of -29.43%, while the broader market has generated a return of 0.99%. The company's financial health is concerning, as it has reported negative results for the last two quarters, with a significant fall in net sales and a low inventory turnover ratio. Additionally, 26.02% of promoter shares are pledged, which can exert downward pressure on the stock price in a falling market.
Broader Market Context: In the short term, Jai Balaji Industries Ltd's stock has performed slightly better than the benchmark, with a 1W return of -0.29% compared to the Sensex's -0.09%. However, looking at the longer-term performance, the stock has significantly lagged behind the benchmark, particularly over the past year and year-to-date, where it has seen a decline of -33.05% against the Sensex's positive return of 5.18%. The company's healthy long-term growth in operating profit contrasts sharply with its recent negative sales results, indicating a potential disconnect between short-term price movements and overall financial performance.