Why is Praj Industries falling/rising?

As of 12-Aug, Praj Industries Ltd is experiencing a decline in its stock price, currently at Rs. 413.15, which reflects a decrease of Rs. 32.7 or 7.33%. The stock has hit a new 52-week low of Rs. 406.6 today and has been on a downward trend, losing 11.97% over the past seven days. It has underperformed its sector by 6.68% today and is trading below all key moving averages, indicating a bearish sentiment. Additionally, the stock has generated a return of -41.46% over the past year, with a significant drop in net sales of 8.43% and negative results reported for the last three consecutive quarters, contributing to its recent price movement.
In the broader market context, Praj Industries has underperformed the benchmark Sensex, which has only declined by 0.59% over the past week, while Praj's stock has fallen by 9.52%. Despite having high institutional holdings at 34.3% and a low debt-to-equity ratio, the company's recent financial performance has raised concerns among investors. The decline in profits by 51.2% over the past year further exacerbates the negative outlook, leading to a lack of confidence in the stock's recovery in the near term.