Why is Jai Balaji Inds. falling/rising?

As of 31-Jul, Jai Balaji Industries Ltd is currently priced at 113.70, reflecting a decrease of 0.75, or 0.66%. The stock has underperformed its sector by 0.37% today and has experienced a trend reversal after two consecutive days of gains. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, investor participation has declined significantly, with delivery volume dropping by 57.24% compared to the 5-day average. Over the past year, the stock has generated a return of -39.20%, which is substantially worse than the benchmark's decline of -0.68%. The company's recent financial performance has also been concerning, with a net sales drop of 13.87% and negative results reported for the last two quarters.
Broader market context shows that while the stock has seen a significant decline year-to-date, the broader market, represented by the Sensex, has gained 3.90% during the same period. This stark contrast highlights the stock's underperformance relative to the market. Despite the company showing healthy long-term growth potential with an annual operating profit increase of 71.06% and a favorable return on capital employed (ROCE) of 30.2, the negative results and falling sales have led to a lack of confidence among investors. The low stake held by domestic mutual funds, at only 0.26%, further suggests a lack of comfort with the stock's current valuation, contributing to its downward price movement.