Why is P I Industries falling/rising?

As of 12-Nov, P I Industries Ltd is experiencing a decline in its stock price, currently at Rs 3,569.90, reflecting a decrease of Rs 211.05 or 5.58%. The stock has underperformed its sector by 4.18% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 6.51%. Additionally, the stock is trading below its moving averages across various time frames, indicating a bearish trend. Despite having a high return on equity (ROE) of 16.06% and a low debt-to-equity ratio, the company has reported flat results in its latest quarter, with operating cash flow and return on capital employed at their lowest levels. This has contributed to a significant year-over-year decline in profits by 14.8%, further exacerbating investor concerns.
In the broader market context, P I Industries has underperformed against the benchmark, with a one-week return of -3.06% compared to the Sensex's +1.21%. Over the past year, the stock has generated a return of -21.33%, while the Sensex has increased by 7.36%. This consistent underperformance against the benchmark over the last three years has likely influenced investor sentiment negatively, leading to reduced participation in trading as evidenced by a drop in delivery volume. Despite the company's strong institutional holdings and market position, the combination of disappointing financial results and a lack of momentum in the stock price has contributed to its current decline.