Why is Ponni Sug.Erode falling/rising?

As of 16-Sep, Ponni Sugars (Erode) Ltd is experiencing a decline in its stock price, currently at 297.15, which reflects a decrease of 5.8 points or 1.91%. The stock has underperformed its sector by 1.73% today and has been on a consecutive downward trend for the last two days, accumulating a total decline of 2.08%. It opened significantly lower, with a gap down of 5.93%, and reached an intraday low of Rs 285. Despite having a higher than 20-day moving average, it remains below the 5-day, 50-day, 100-day, and 200-day moving averages. The company has reported negative results for the last five consecutive quarters, with net sales falling by 32.8% and a significant drop in profit before tax and profit after tax, leading to a poor long-term growth outlook. The stock's return over the past year is a concerning -38.06%, while its profits have decreased by 73.5%, contributing to its classification as a strong sell.
In the broader market context, the stock's short-term performance over the past week shows a modest gain of 0.73%, while the benchmark Sensex has increased by 1.58%. However, the year-to-date performance indicates a stark contrast, with Ponni Sugars down by 26.74% compared to the Sensex's gain of 5.43%. This underperformance in both the long term and near term, coupled with a high valuation relative to peers and a low return on equity, suggests that investor sentiment is negatively impacted, leading to the current decline in stock price.