Why is Jubilant Ingrev. falling/rising?

As of 23-Sep, Jubilant Ingrevia Ltd's stock price is currently at 673.50, reflecting a decrease of 10.75 points or 1.57%. The stock opened the day with a gain of 2.29% but subsequently fell to an intraday low of Rs 666, indicating volatility within the trading session. Over the past week, the stock has underperformed, showing a decline of 5.80%, while its performance over the last month is also negative at -5.96%. Despite positive financial results in the last three quarters, including a significant increase in profits and a low Debt to EBITDA ratio, the stock's long-term growth prospects appear poor, with net sales and operating profit declining over the past five years. Additionally, a reduction in promoter confidence, as evidenced by a 6.25% decrease in their stake, may further contribute to the stock's downward pressure.
In the broader market context, the Sensex has shown a slight increase of 0.98% over the past month, contrasting with Jubilant Ingrevia's negative returns. This underperformance is notable as the stock has not only lagged behind the benchmark in the short term but has also generated a return of -10.68% over the past year, while the Sensex has declined by only 3.33% during the same period. The stock's trading below all major moving averages and a significant drop in delivery volume further indicate a lack of investor confidence, which may be exacerbated by its recent poor performance relative to the broader market.