Why is Pitti Engg. falling/rising?

As of 11-Nov, Pitti Engineering Ltd's stock price is currently at 881.30, reflecting a decrease of 20.3 points or 2.25%. The stock has been on a downward trend, having underperformed its sector by 2.89% today and experiencing a consecutive fall for the last seven days, resulting in a total decline of 8.97% during this period. The stock has also been trading below its moving averages across various time frames, indicating a bearish trend. Despite a healthy long-term growth in net sales and an attractive valuation compared to peers, the stock has generated a negative return of -33.17% over the past year, which has contributed to its recent price decline.
In the broader market context, Pitti Engineering's short-term performance has significantly lagged behind the benchmark, with a 1-week return of -6.27% compared to the Sensex's gain of 0.49%. This underperformance is notable given that the overall market has shown resilience, with the BSE500 generating returns of 4.43% over the last year. The high institutional holdings at 21.39% suggest that informed investors are closely monitoring the stock, but the flat results reported in September and the reliance on non-operating income have raised concerns. Consequently, these factors have contributed to the stock's negative momentum in the market.