Why is JK Tyre & Indust falling/rising?

As of 31-Jul, JK Tyre & Industries Ltd is experiencing a decline in its stock price, currently at 335.90, which reflects a decrease of 5.85 or 1.71%. The stock has been underperforming recently, having fallen for the last two days and showing a total decline of 2.16% during this period. It opened with a loss of 2.25% today and reached an intraday low of Rs 331.95. Over the past week, the stock has decreased by 5.11%, and in the last month, it has dropped by 5.69%. The stock's performance over the past year is particularly concerning, with a return of -24.46%, significantly worse than the broader market's decline of -0.68%. Additionally, the company has reported negative results for the last three consecutive quarters, with profits falling by 34.5% compared to previous averages, which has likely contributed to the stock's downward trend.
In the broader market context, JK Tyre's recent performance contrasts with the benchmark, as it has underperformed the Sensex, which has seen a smaller decline of 1.22% over the past week. The tyre sector as a whole has also faced challenges, with a 2.2% drop. The stock's liquidity appears adequate, but there has been a notable decrease in investor participation, with delivery volume falling by 35.24% against the five-day average. Despite having a relatively attractive valuation compared to peers and high institutional holdings, the negative sentiment surrounding the company's financial performance and the broader sector's struggles have overshadowed these factors, leading to the current decline in stock price.