Why is Nitiraj Engineer falling/rising?

As of 20-Oct, Nitiraj Engineers Ltd is experiencing a decline in its stock price, currently at Rs 191.72, which reflects a decrease of Rs 7.71 or 3.87%. The stock has underperformed significantly, with a 1-week return of -3.66%, a 1-month return of -10.31%, and a year-to-date return of -15.54%. Today's performance indicates that the stock is trading below all key moving averages, and it is close to its 52-week low, being only 2.98% away from Rs 186. Despite a low debt-to-equity ratio and healthy long-term growth in operating profit, the stock's profitability has been hindered by a low return on equity (ROE) of 4.83% and a significant decline in net sales and profit after tax over the last six months.
Broader market context shows that while the Sensex has gained 2.44% over the past week, Nitiraj Engineers has not only fallen but has also underperformed the broader market significantly over the past year, with a return of -23.31% compared to the BSE500's positive return of 0.80%. This stark contrast highlights the challenges faced by the company, including poor management efficiency and negative financial results, which have contributed to the stock's downward trajectory. The rising investor participation, indicated by an increase in delivery volume, may not be sufficient to counteract the negative sentiment surrounding the stock, especially given its recent performance and the broader market's positive trends.