Why is JTL Industries falling/rising?

As of 29-Jul, JTL Industries Ltd is experiencing a decline in its stock price, currently at Rs 73.12, which represents a decrease of Rs 1.68 or 2.25%. The stock has been underperforming, having fallen for three consecutive days with a total decline of 7.79%. Although it opened with a gain of 2.14% today and reached an intraday high of Rs 76.4, it also touched a low of Rs 72.05. The stock's performance over the past week shows a significant drop of 9.53%, and it has underperformed the sector by 3.56%. Additionally, the company has reported negative results for the last four consecutive quarters, with profits falling by 28.7%, which contributes to the negative sentiment surrounding the stock. Furthermore, foreign institutional investors (FIIs) have reduced their holdings to 2.81%, indicating a lack of confidence in the stock.
In the broader market context, JTL Industries has significantly underperformed compared to the benchmark, with a one-year return of -31.52% against the BSE500's -2.26%. This stark contrast highlights the company's struggles relative to the market. The stock's recent performance is compounded by its trading below all key moving averages and a notable drop in investor participation, with delivery volume decreasing by 62.42% against the five-day average. While the company maintains a high return on equity (ROE) of 17.92% and a low debt-to-EBITDA ratio, these positive factors are overshadowed by poor long-term growth prospects and declining sales, further contributing to the stock's downward trajectory.