Why is JTL Industries falling/rising?

As of 11-Aug, JTL Industries Ltd is experiencing a decline in its stock price, currently at Rs 69.14, reflecting a decrease of Rs 1.11 or 1.58%. The stock has underperformed its sector by 1.87% today and has shown a trend reversal after two consecutive days of gains. It opened with a loss of 3.74%, reaching an intraday low of Rs 67.62, while the day's high was Rs 72. The stock has significantly underperformed over the past month, with a return of -19.38%, compared to a -2.30% return for the benchmark Sensex. Additionally, the stock has seen a decrease in investor participation, with delivery volume falling by 30.3% against the five-day average. Despite a high management efficiency indicated by a return on equity (ROE) of 17.92% and a low debt to EBITDA ratio of 0.39, the stock's negative performance is compounded by a significant decline in profits over the past year, which has contributed to its poor long-term growth outlook.
In the broader market context, JTL Industries has underperformed the benchmark significantly, with a one-year return of -35.71% compared to the Sensex's positive return of 1.13%. This stark contrast highlights the challenges the company faces, particularly as foreign institutional investors (FIIs) have reduced their holdings to 2.81%. The company's negative results over the last four consecutive quarters and a low return on capital employed (ROCE) of 10.52% further exacerbate investor concerns. Overall, the combination of declining sales growth, poor quarterly results, and reduced investor confidence has led to the stock's downward trajectory in the market.