Why is Praveg falling/rising?

As of 02-Sep, Praveg Ltd's stock price is currently at Rs. 386.65, reflecting a decrease of Rs. 9.6 or 2.42%. The stock has recently hit a new 52-week low of Rs. 378, indicating a significant decline, and has underperformed its sector by 2.56%. Over the past week, the stock has dropped by 2.11%, and its year-to-date performance shows a staggering decline of 46.57%. The company has also reported a negative profit after tax of Rs. -6.14 crore, which has fallen dramatically by 260.4% compared to the previous four-quarter average. Additionally, while the company maintains a high return on equity (ROE) of 26.87% and a low debt-to-equity ratio, its profits have decreased by 33.3% over the past year, contributing to the stock's downward trend.
In the broader market context, Praveg Ltd has significantly underperformed compared to the benchmark index, with a one-year return of -56.16% against the BSE500's decline of only -4.82%. This stark contrast highlights the stock's struggles relative to the overall market. Furthermore, institutional investors have reduced their stake by 1.64% in the last quarter, indicating a lack of confidence among more knowledgeable investors. The stock's performance has also been hindered by its trading below all major moving averages, suggesting a bearish trend. Despite a rise in retail investor participation, the overall sentiment remains negative, contributing to the stock's continued decline.