Why is Ponni Sug.Erode falling/rising?

As of 24-Sep, Ponni Sugars (Erode) Ltd is currently priced at 287.75, reflecting a decline of 2.75, or 0.95%. The stock has been on a downward trend, having fallen for the last eight consecutive days, resulting in a total decrease of 5.17% during this period. In terms of performance against benchmarks, the stock has underperformed significantly, with a year-to-date return of -29.06% compared to the Sensex's gain of 4.58%. Additionally, the company has reported negative results for the last five consecutive quarters, with net sales falling by 32.8% and a substantial decline in profit before tax and profit after tax, indicating poor financial health and contributing to the stock's decline. Despite a low debt-to-equity ratio, the overall outlook remains negative due to poor long-term growth and a high valuation relative to peers.
In the broader market context, Ponni Sugars has underperformed the Sensex, which has only declined by 1.18% over the past week, while the stock itself has dropped by 3.13%. This stark contrast highlights the stock's struggles in a market that is not experiencing severe downturns. The rising investor participation, as indicated by a 77.81% increase in delivery volume, suggests some interest in the stock, but it is overshadowed by the overall negative sentiment stemming from its financial performance and long-term growth prospects. The company's valuation remains high compared to its peers, further complicating its recovery in the current market environment.