Why is Pitti Engg. falling/rising?

As of 31-Jul, Pitti Engineering Ltd's stock price is currently at 939.20, reflecting a decrease of 12.8 points or 1.34%. The stock has underperformed its sector by 0.81% today, having opened with a significant loss of 4.25% and reaching an intraday low of Rs 911.55. Over the past week, the stock has declined by 2.40%, and it has also shown a negative trend over the last month with a 5.05% decrease. Despite the company reporting positive financial results over the last nine consecutive quarters, including a 22.93% growth in PAT, the stock has struggled, evidenced by its year-to-date decline of 28.74% compared to a 3.90% increase in the Sensex.
In the broader market context, Pitti Engineering's performance has been notably weaker than the benchmark, as it has underperformed the BSE500, which recorded a negative return of 3.20% over the last year, while Pitti's stock fell by 22.35%. The stock's recent price movement is compounded by falling investor participation, with delivery volume dropping significantly, indicating reduced interest from investors. Additionally, the stock is trading below its moving averages, suggesting a bearish trend. While the company has demonstrated healthy long-term growth in net sales and operating profit, the current market sentiment appears to be weighing heavily on the stock's performance.