Why is Pilani Invest. falling/rising?

As of 22-Sep, Pilani Investment & Industries Corporation Ltd is experiencing a decline in its stock price, currently at 5,350.00, which reflects a decrease of 141.9 points or 2.58%. Today's performance indicates that the stock has underperformed its sector by 3%, marking a trend reversal after five consecutive days of gains. The stock touched an intraday low of Rs 5348, and despite trading above its moving averages, it has faced challenges with a significant drop in profits over the past year, falling by 64.3%. Additionally, the company has reported negative results for the last three consecutive quarters, contributing to concerns about its long-term fundamental strength, as indicated by a low return on equity of 0.6 and a high debt-equity ratio.
In the broader market context, while Pilani Investment has shown a positive return of 2.26% over the past week, it has underperformed compared to the Sensex, which gained 0.46% during the same period. The stock's year-to-date performance is slightly negative at -0.12%, contrasting with the Sensex's positive return of 5.15%. This underperformance, coupled with the lack of domestic mutual fund investment, suggests a cautious outlook from institutional investors, potentially reflecting concerns about the company's valuation and business fundamentals.