Why is Pitti Engg. falling/rising?

As of 13-Oct, Pitti Engineering Ltd's stock price is currently at Rs 945.00, reflecting a decrease of Rs 26.85 or 2.76%. The stock has underperformed its sector by 1.64% today, reaching an intraday low of Rs 945. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 70.28% compared to the 5-day average. Over the past year, the stock has generated a return of -29.51%, which is considerably worse than the broader market's negative return of -1.73%. Despite a healthy long-term growth rate in net sales and an attractive valuation, the stock's recent performance has been negatively impacted by flat quarterly results and a significant decline in profit after tax.
In the broader market context, while the Sensex has shown a positive return of 0.66% over the past week, Pitti Engineering's stock has declined by 3.31% in the same period. This stark contrast highlights the stock's underperformance relative to the benchmark. The company's recent financial results, including a 25.2% drop in profit after tax compared to the previous quarter's average, have contributed to investor concerns. Although the company has shown long-term growth potential, the current market sentiment appears to be influenced by recent disappointing financial performance and a lack of investor confidence, leading to the stock's decline.