Why is Jai Balaji Inds. falling/rising?

As of 28-Jul, Jai Balaji Industries Ltd is currently priced at 110.50, reflecting a decline of 3.8 points or 3.32%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 8.34% during this period. Despite opening with a gain of 3.19% today and reaching an intraday high of Rs 117.95, it also touched a low of Rs 109.45, indicating high volatility with an intraday fluctuation of 5.06%. Over the past week, the stock has decreased by 9.43%, and year-to-date, it has plummeted by 38.63%, significantly underperforming the Sensex, which has gained 3.52% during the same timeframe. The company's recent financial results have been disappointing, with a net sales decline of 13.87% and consecutive negative results over the last two quarters, contributing to a bearish sentiment among investors.
Broader market context shows that while the overall market (BSE500) has experienced a negative return of 2.52% over the past year, Jai Balaji Industries Ltd has fared much worse with a staggering decline of 39.68%. This stark contrast highlights the company's struggles, particularly in light of its high promoter pledged shares, which can exert additional downward pressure in a falling market. Furthermore, the stock's performance has been hindered by a significant drop in investor participation, as evidenced by a 44.66% decrease in delivery volume compared to the five-day average. Despite the company's long-term growth potential, reflected in a healthy operating profit growth rate of 71.06%, the immediate outlook remains bleak due to these negative factors.