Why is Nitiraj Engineer falling/rising?

As of 13-Nov, Nitiraj Engineers Ltd is experiencing a decline in its stock price, currently at Rs. 181.15, which represents a decrease of Rs. 4.19 or 2.26%. The stock has hit a new 52-week low of Rs. 179 today and has underperformed its sector by 1.9%. Additionally, it is trading below all key moving averages, indicating a bearish trend. Over the past week, the stock has dropped by 4.49%, and on a year-to-date basis, it has fallen by 20.19%. The company's financial performance has also been concerning, with a significant drop in net sales and profit after tax over the last six months, contributing to a negative return of 9.47% over the past year. Despite a low debt-to-equity ratio and healthy long-term growth in operating profit, the stock's overall performance is hindered by poor management efficiency and declining profitability.
In the broader market context, the stock's performance contrasts sharply with the benchmark Sensex, which has gained 1.45% over the past week and 9.45% year-to-date. This stark difference highlights the stock's struggle to keep pace with market trends, as it has underperformed significantly compared to the broader market and the BSE500 index, which has returned 8.17% over the last year. The falling investor participation, evidenced by a 45.65% drop in delivery volume, further underscores the lack of confidence among investors in Nitiraj Engineers Ltd, contributing to its declining stock price.