Why is PG Electroplast falling/rising?

As of 23-Sep, PG Electroplast Ltd's stock price is currently at 558.25, reflecting a decrease of 2.95, or 0.53%. The stock has underperformed its sector by 0.7% today and has been on a downward trend for the last two days, accumulating a total decline of 2.13%. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. While the company has shown healthy long-term growth with net sales increasing at an annual rate of 50% and operating profit at 74.19%, recent quarterly results have been disappointing, with a significant drop in profit before tax and profit after tax. Additionally, a reduction in promoter confidence, as evidenced by a 5.65% decrease in their stake, raises concerns about the company's future prospects.
In the broader market context, PG Electroplast's performance over the past week shows a decline of 2.17%, while the Sensex has only fallen by 0.34%, indicating a significant underperformance relative to the benchmark. Over the past year, the stock has generated a return of -9.23%, contrasting with the Sensex's decline of only 3.33%. This suggests that while the overall market has faced challenges, PG Electroplast has struggled even more, likely due to its recent poor financial results and diminishing promoter confidence, which may deter investors and contribute to the stock's downward trajectory.