Why is Jai Balaji Inds. falling/rising?

As of 01-Aug, Jai Balaji Industries Ltd is experiencing a decline in its stock price, currently at Rs 109.85, reflecting a decrease of Rs 3.85 or 3.39%. The stock has underperformed its sector by 1.13% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 4.02% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has fallen by 3.89%, and its year-to-date performance shows a significant drop of 38.99%. The company's recent financial results have been disappointing, with a net sales decline of 13.87% and negative results reported for the last two consecutive quarters, contributing to a lack of investor confidence.
In the broader market context, while the Sensex has only decreased by 1.06% over the past week, Jai Balaji Industries' performance has been considerably worse, indicating a significant underperformance relative to the benchmark. The stock's long-term growth potential is overshadowed by its recent financial struggles, including a 36.6% drop in profits over the past year, which has led to a decrease in investor participation, as evidenced by a 57.32% drop in delivery volume. Furthermore, the low stake held by domestic mutual funds, at just 0.26%, suggests a lack of confidence in the company's current valuation and business outlook, reinforcing the stock's downward trajectory.