Why is Jyoti Resins falling/rising?

As of 23-Sep, Jyoti Resins and Adhesives Ltd is currently priced at 1,267.00, reflecting a slight increase of 0.35 (0.03%). Despite this minor uptick, the stock has shown a negative performance trend over various periods, including a 1-week decline of 0.81% and a 1-month decline of 0.86%. Today's price summary indicates that the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend. Additionally, delivery volume has significantly decreased by 49.58% compared to the 5-day average, indicating falling investor participation. While the company has a low debt-to-equity ratio and has demonstrated healthy long-term growth in net sales and operating profit, recent quarterly results have shown a decline in both profit before tax and profit after tax compared to previous averages, contributing to a perception of overvaluation with a high price-to-book ratio.
In the broader market context, Jyoti Resins has underperformed against the benchmark, with a year-to-date return of -4.19% compared to the Sensex's gain of 5.07%. The stock has consistently lagged behind the benchmark over the past three years, generating a return of -20.73% while the BSE500 has seen a much smaller decline of -3.33%. This consistent underperformance, coupled with the lack of investment from domestic mutual funds, suggests a lack of confidence in the stock's valuation and future prospects. Overall, while there is a slight uptick in the stock price today, the underlying factors indicate ongoing challenges that may hinder its recovery in the near term.