Why is Nitiraj Engineer falling/rising?

As of 28-Aug, Nitiraj Engineers Ltd is experiencing a decline in its stock price, currently at Rs 190.55, which reflects a decrease of Rs 0.68 or 0.36%. The stock is trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. It is also close to its 52-week low, being just 2.7% away from Rs 186.23. Despite outperforming its sector by 1.22% today, the stock has shown negative returns over various periods, including a 2.74% drop over the past week and a 16.05% decline year-to-date. The company's low Debt to Equity ratio of 0.01 times and healthy long-term growth in operating profit at an annual rate of 66.69% are positive factors; however, the significant drop in profits by 35.4% over the past year and poor management efficiency, reflected in a low ROE of 4.83%, contribute to the stock's negative performance.
In the broader market context, Nitiraj Engineers Ltd's short-term performance has been worse than the benchmark, with a 1-week return of -2.74% compared to the Sensex's -2.32%. This underperformance is compounded by negative financial results, including a 41.69% decline in net sales and a negative PAT for the latest six months. While the stock is trading at a fair value compared to its peers, the overall sentiment remains cautious due to the company's profitability challenges and declining sales figures.