Why is Nitiraj Engineer falling/rising?

As of 25-Sep, Nitiraj Engineers Ltd is experiencing a decline in its stock price, currently at 205.29, reflecting a decrease of 3.83 points or 1.83%. The stock has underperformed its sector today by 0.38%, and while it is trading higher than its 20-day and 50-day moving averages, it falls below the 5-day, 100-day, and 200-day moving averages. Over the past week, the stock has decreased by 2.78%, and its year-to-date performance shows a significant decline of 9.56%. Despite a healthy long-term growth rate in operating profit of 66.69%, the stock has faced challenges, including a 35.4% drop in profits over the past year, contributing to its negative return of 16.19% compared to the broader market's decline of 4.28%.
In the broader market context, the stock's recent performance has been weaker than the benchmark, with a 1-year return of -16.19% compared to the Sensex's -4.28%. This underperformance is compounded by poor management efficiency, indicated by a low return on equity of 4.83%, and negative sales growth of 41.69% in the latest six months. The falling investor participation, as evidenced by a 12.44% decrease in delivery volume, further suggests a lack of confidence among investors. Although the company maintains a low debt-to-equity ratio and is trading at a fair valuation relative to its peers, the combination of declining profits and underperformance against the market has led to the current downward trend in its stock price.