Why is Nova Agritech falling/rising?

As of 01-Aug, Nova Agritech Ltd's stock price is currently at Rs 53.56, reflecting a decrease of Rs 1.43, or 2.6%. The stock has been on a downward trend, having fallen consecutively for the last three days, resulting in a total decline of 9.13% during this period. Despite today's performance showing an intraday high of Rs 56.35, the stock's weighted average price indicates that more volume was traded closer to its low of Rs 52.57. Over the past week, the stock has underperformed with a return of -7.00%, while it has shown a modest recovery of 7.27% over the past month. However, the stock's year-to-date performance remains concerning, with a decline of 13.02%. The company's ability to service debt is strong, evidenced by a low Debt to EBITDA ratio of 0.59 times, but its operating profit growth has been lackluster, and domestic mutual funds hold no stake, suggesting a lack of confidence in the stock's valuation.
In the broader market context, the Sensex has experienced a slight decline of 1.06% over the past week, indicating that while Nova Agritech's performance is poor, it is not entirely isolated from market trends. The stock's significant drop of 33.80% over the past year starkly contrasts with the Sensex's decline of only 1.55%, highlighting its underperformance relative to the market. The recent negative sentiment in the pesticides and agrochemicals sector, which has fallen by 3.36%, further compounds the challenges faced by Nova Agritech. Overall, the combination of weak operating results, lack of institutional support, and sector-wide declines contributes to the stock's current downward trajectory.