Why is Jai Balaji Inds. falling/rising?

As of 25-Jul, Jai Balaji Industries Ltd is experiencing a decline in its stock price, currently at Rs 114.30, which reflects a decrease of Rs 6.25 or 5.18%. Today's price summary indicates that the stock underperformed its sector by 3.38%, reaching an intraday low of Rs 113.3. The stock's performance over the past week shows a decline of 4.95%, and it has underperformed the benchmark Sensex, which fell only 0.36%. Additionally, the company has reported a significant drop in net sales by 13.87% and has declared negative results for the last two consecutive quarters, contributing to a year-to-date decline of 36.52%. The falling investor participation, with a 53.53% drop in delivery volume, further exacerbates the stock's downward trend.
In the broader market context, while the Sensex has shown a positive return of 4.25% year-to-date, Jai Balaji Industries Ltd has significantly lagged behind, with a staggering decline of 36.52%. This stark contrast highlights the company's struggles, particularly in light of its negative financial results and the high percentage of pledged promoter shares, which can exert additional downward pressure on the stock. Despite the company's long-term growth potential, as indicated by a healthy operating profit growth rate of 71.06%, the recent negative performance and market conditions have led to a lack of investor confidence, resulting in the stock's continued decline.