Why is Kiri Industries falling/rising?

As of 04-Aug, Kiri Industries Ltd is experiencing a decline in its stock price, currently at Rs 538.55, reflecting a decrease of Rs 5.95 or 1.09%. The stock has underperformed its sector by 2.23% today and has been on a consecutive fall for the last three days, resulting in a total decline of 4.22% during this period. Although the stock opened with a gain of 5.6% today and reached an intraday high of Rs 575, it has been trading below its moving averages and has shown high volatility with an intraday fluctuation of 6.46%. The company has also reported a significant drop in delivery volume, indicating falling investor participation. Despite having high institutional holdings at 25.04% and a strong past performance with a 58.47% return over the last year, the company has declared negative results for the last two consecutive quarters, which has contributed to its current price movement.
In the broader market context, Kiri Industries has underperformed compared to the benchmark Sensex, which has gained 0.16% over the past week while Kiri's stock has decreased by 1.58%. The company's weak long-term fundamentals, highlighted by operating losses and a poor EBIT to Interest ratio, further exacerbate its stock's decline. Although it has a significant market cap and constitutes a notable portion of its sector, the recent negative financial results and the company's inability to service its debt effectively have raised concerns among investors, leading to the current downward trend in its stock price.