Why is Ponni Sug.Erode falling/rising?

As of 16-Jun, Ponni Sugars (Erode) Ltd is experiencing a decline in its stock price, currently at Rs 338.65, which reflects a decrease of Rs 5.35 or 1.56%. The stock has been underperforming, having fallen for the last three consecutive days with a total drop of 6%. Today, it reached an intraday low of Rs 334.85, indicating a significant downward trend. Over the past week, the stock has decreased by 2.27%, and its year-to-date performance shows a substantial decline of 16.51%. The company has reported negative results for the last four quarters, with a significant drop in profit after tax and a low return on capital employed, contributing to a perception of poor long-term growth.
In the broader market context, the stock's performance has lagged behind the benchmark, as the Sensex has shown a slight decline of 0.79% over the past week, while Ponni Sugars has fallen more sharply. The stock's liquidity is adequate, but there has been a notable decrease in investor participation, with delivery volume dropping by 58.39% compared to the five-day average. This lack of interest, combined with the company's poor financial performance and high valuation compared to peers, has led to a negative sentiment surrounding the stock, reinforcing its status as a strong sell.