Why is Praj Industries falling/rising?

As of 26-Aug, Praj Industries Ltd is experiencing a decline in its stock price, currently at Rs. 400.45, which reflects a decrease of Rs. 8.8 or 2.15%. The stock has hit a new 52-week low of Rs. 397.35 today and has underperformed significantly over various periods, with a 1-month return of -17.11% and a year-to-date return of -51.25%. The company's performance today aligns with the sector, which has also seen a decline of -2.16%. Additionally, the stock is trading below its moving averages across multiple time frames, indicating a bearish trend. The recent negative results, including a fall in net sales by -8.43% and consecutive quarterly losses, have contributed to a lack of investor confidence, reflected in a decrease in delivery volume.
In the broader market context, Praj Industries' short-term performance has been notably worse than the benchmark, with a 1-week return of -3.42% compared to the Sensex's -1.05%. This underperformance is compounded by the company's recent financial struggles, including a significant drop in profits and negative results over the last three quarters. Despite having strong long-term fundamentals, such as low debt and high return on capital employed, the immediate outlook remains challenging due to declining sales and profitability, which have led to a cautious sentiment among investors.