Why is Nandan Denim falling/rising?

As of 22-Sep, Nandan Denim Ltd's stock price is currently at 3.56, reflecting a decrease of 0.06 or 1.66%. The stock has shown mixed performance recently, with a 1-week return of +1.71% and a 1-month return of +4.09%, indicating some short-term strength. However, it has significantly underperformed the sector today by 0.95%. The stock is trading above its 5-day and 20-day moving averages but below its longer-term moving averages, suggesting a lack of sustained upward momentum. Additionally, there has been a notable decline in investor participation, with delivery volume falling by 27.61% compared to the 5-day average. Despite a healthy long-term growth outlook, with net sales increasing at an annual rate of 28.18% and operating profit at 48.14%, the stock has faced challenges, including a substantial year-to-date decline of 26.75% and a 45.23% drop over the past year.
In the broader market context, while Nandan Denim's recent short-term performance has outpaced the Sensex, which has returned 0.46% over the past week, the stock's long-term performance remains concerning, particularly given its year-to-date decline compared to the Sensex's gain of 5.15%. The increase in institutional investor participation, with a 0.81% rise in stake over the previous quarter, may provide some support for the stock, as these investors typically have better resources to analyze company fundamentals. However, the overall negative sentiment surrounding the stock, driven by falling profits and significant underperformance over the past year, continues to weigh on its price movement.