Why is Praj Industries falling/rising?

As of 06-Oct, Praj Industries Ltd is experiencing a decline in its stock price, currently at 347.05, which reflects a decrease of 11.9 points or 3.32%. The stock has underperformed its sector by 2.89% today and has fallen after two consecutive days of gains. It touched an intraday low of Rs 346, indicating a downward trend. Over the past week, the stock has shown a slight increase of 1.68%, but it has significantly underperformed over the past month and year, with returns of -14.31% and -54.22%, respectively. The company has reported negative results for the last three consecutive quarters, with a notable decline in net sales of 8.43%, contributing to the stock's poor performance.
Broader market context indicates that while the Sensex has gained 1.77% over the past week, Praj Industries has lagged behind, reflecting broader challenges faced by the company. Despite having strong long-term fundamentals, such as low debt and high profitability, the recent financial results have raised concerns among investors. The stock's high institutional holdings at 34.3% suggest that informed investors are closely monitoring the company's performance, which has been disappointing in the near term. Overall, the combination of negative financial results and underperformance relative to the benchmark has led to a decline in investor confidence, contributing to the stock's current downward movement.