Why is Ponni Sug.Erode falling/rising?

As of 22-Jul, Ponni Sugars (Erode) Ltd is currently priced at 320.85, reflecting a slight increase of 0.85 (0.27%). Despite this minor uptick, the stock has shown a negative performance trend, with a 1-week return of -3.40% and a 1-month return of -2.03%. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the company has reported negative results for the last five consecutive quarters, with net sales falling by 32.8% and a significant decline in profit after tax. The long-term growth outlook appears poor, with an annual operating profit decline of 23.98% over the past five years, contributing to a negative sentiment around the stock.
In the broader market context, Ponni Sugars has underperformed compared to the Sensex, which has shown a positive return of 5.18% year-to-date, while Ponni Sugars has declined by 20.89% in the same period. The stock's recent performance is also concerning when considering its returns over the past year, which stand at -37.24%, significantly lagging behind the benchmark. Although there has been a rise in investor participation, as evidenced by a 149.78% increase in delivery volume, the overall sentiment remains negative due to the company's poor financial performance and high valuation relative to its peers.