Why is Kiri Industries falling/rising?

As of 13-Aug, Kiri Industries Ltd is experiencing a decline in its stock price, currently at 530.65, which reflects a decrease of 4.35 (-0.81%). The stock has underperformed its sector by 0.98% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 5.4% during this period. Over the past week, Kiri Industries has seen a significant drop of 7.91%, and its year-to-date performance shows a decline of 14.22%, contrasting sharply with its impressive one-year return of 56.07%. The company is facing operational challenges, including operating losses and negative results for the last three consecutive quarters, which have contributed to its weak long-term fundamental strength. Additionally, a high percentage of pledged promoter shares (78.49%) adds to the stock's risk profile, further pressuring its price.
In the broader market context, Kiri Industries' recent performance has been notably weaker compared to the benchmark Sensex, which has only declined by 0.01% over the past week. While the stock has outperformed the market over the past year, the current negative trends in profitability and operational performance are overshadowing this past success. The stock's liquidity remains adequate, with a notable increase in delivery volume, suggesting some investor interest; however, the overall sentiment is dampened by the company's financial struggles and the high level of pledged shares, which could lead to further downward pressure in a falling market.