Why is Praj Industries falling/rising?

As of 12-Sep, Praj Industries Ltd is experiencing a price increase, currently at Rs 392.95, reflecting a change of 2.3 (0.59%) upward. Despite this recent uptick, the stock has shown a concerning trend, underperforming its sector by 0.32% today and trading below all key moving averages. Over the past week, the stock has declined by 2.98%, and its year-to-date performance is particularly troubling, with a drop of 52.16%. The company has faced significant challenges, including a 51.2% decline in profits over the past year and negative results for three consecutive quarters, which have contributed to a lack of investor confidence. However, the company maintains a low debt-to-equity ratio and strong long-term fundamentals, with a healthy growth rate in net sales and operating profit, which may provide some support for the stock's price.
In the broader market context, Praj Industries' recent performance contrasts sharply with the Sensex, which has gained 1.48% over the past week. This disparity highlights the stock's struggles, particularly as it has underperformed the BSE500 over various time frames, including the last three years and one year. The high institutional holdings at 34.3% suggest that more sophisticated investors are closely monitoring the company's fundamentals, which may influence future price movements. Overall, while the stock has seen a slight rise today, the underlying issues and poor performance relative to the benchmark indicate a challenging environment for Praj Industries.