Why is Ponni Sug.Erode falling/rising?

As of 24-Jul, Ponni Sugars (Erode) Ltd is experiencing a decline in its stock price, currently at Rs 304.25, which reflects a decrease of Rs 12.25 or 3.87%. The stock has underperformed its sector by 3.45% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 5.17%. Additionally, the stock has shown poor performance over various time frames, with a year-to-date return of -24.99% and a staggering -41.40% over the past year. The company has also reported negative financial results for the last five consecutive quarters, with net sales falling by 32.8% and a significant drop in profit after tax, which has contributed to its weak operating profit growth of -23.98% over the last five years.
In the broader market context, the stock's short-term performance has been notably worse than the benchmark, with a 1-week return of -7.86% compared to the Sensex's minor decline of -0.09%. This underperformance is compounded by a decrease in investor participation, as evidenced by a 56.46% drop in delivery volume compared to the 5-day average. The stock is also trading below all its moving averages, indicating a bearish trend. Despite having a low debt-to-equity ratio, the company's valuation appears expensive relative to its peers, which, along with its declining profits and negative growth outlook, suggests a challenging environment for the stock moving forward.