Why is Praj Industries falling/rising?

As of 28-Aug, Praj Industries Ltd is experiencing a decline in its stock price, currently at Rs. 395.50, which reflects a decrease of Rs. 4.95 or 1.24%. The stock has hit a new 52-week low today and has been on a downward trend, falling for the last two days with a total decline of 3.36%. Over the past week, the stock has decreased by 4.00%, and in the last month, it has seen a significant drop of 17.26%. Despite the company's low debt and strong long-term fundamentals, including a healthy growth rate in net sales and operating profit, the recent performance has been overshadowed by negative quarterly results, including a decline in net sales of 8.43% and consecutive negative results over the last three quarters.
In the broader market context, while the Sensex has decreased by 2.34% over the past week, Praj Industries' decline of 4.00% indicates underperformance relative to the benchmark. The stock's long-term performance has also been poor, with a 51.85% drop year-to-date and a 46.70% decline over the past year, which is significantly worse than the Sensex's 2.48% gain in the same timeframe. The high institutional holdings at 34.3% suggest that informed investors are closely monitoring the company's fundamentals, which may contribute to the stock's volatility in light of its recent negative performance and declining profitability metrics.