Why is Praveg falling/rising?

As of 10-Oct, Praveg Ltd's stock price is currently at Rs 351.65, reflecting a decline of Rs 18.5 or 5.0%. The stock has recently hit a new 52-week low of Rs 297.7 and has underperformed its sector by 6.25%. Over the past three days, the stock has consistently fallen, resulting in a total drop of 10.02%. The stock is trading below all its moving averages, indicating a bearish trend. Additionally, while the company shows high management efficiency with a return on equity of 26.87% and a low debt-to-equity ratio, it has faced significant challenges, including a 260.4% decline in profit after tax compared to the previous quarter and a 33.3% decrease in profits over the past year. The falling participation from institutional investors, who have reduced their stake by 1.64%, further adds to the negative sentiment surrounding the stock.
In the broader market context, Praveg's performance has been notably poor compared to the benchmark, with a year-to-date decline of 51.41% against a 5.58% increase in the Sensex. Over the past year, while the BSE500 index has experienced a negative return of 1.51%, Praveg's stock has plummeted by 53.41%, indicating a significant underperformance. This stark contrast highlights the challenges the company faces in attracting investor confidence and maintaining its market position, contributing to the ongoing decline in its stock price.