Why is Jai Balaji Inds. falling/rising?

As of 24-Sep, Jai Balaji Industries Ltd is experiencing a decline in its stock price, currently at Rs 97.10, which reflects a decrease of Rs 2.7 or 2.71%. The stock has hit a new 52-week low of Rs 96.6 today and has been on a downward trend, losing 5.82% over the past week and 5.64% over the past month. The company has reported negative results for the last three consecutive quarters, with net sales falling by 21.02%, contributing to a significant annual decline of 57.70% in stock returns. Additionally, the stock is trading below its moving averages and has seen a decrease in investor participation, with delivery volume down by 34.07% compared to the five-day average.
In the broader market context, while the Sensex has shown a slight decline of 1.18% over the past week, Jai Balaji Industries has underperformed significantly, indicating a more severe downturn relative to the benchmark. The company's financial struggles, including a 54.3% drop in profits and a low operating profit to interest ratio, further exacerbate its challenges. The presence of pledged promoter shares adds additional pressure on the stock price in a falling market. Overall, the combination of poor financial performance and negative market sentiment has led to the stock's continued decline.