Why is Sapphire Foods falling/rising?

As of 24-Jul, Sapphire Foods India Ltd is experiencing a decline in its stock price, currently at Rs 337.80, which represents a decrease of Rs 6.6 or 1.92%. The stock has underperformed its sector by 1.29% today and opened with a loss of 2.71%. After two consecutive days of gains, the stock has reversed its trend, touching an intraday low of Rs 333.5, which is a drop of 3.16%. Despite this decline, the stock has shown positive performance over the past month with a return of 3.65%, and over the past year, it has generated a return of 4.19%. However, it is important to note that the company's profits have fallen by 33.4% over the past year, which may be contributing to the current downward pressure on the stock.
In the broader market context, Sapphire Foods' short-term return of -1.16% over the past week contrasts with the Sensex, which has only declined by 0.09%. This indicates that while the stock is facing challenges, the overall market is relatively stable. The company benefits from healthy long-term growth metrics, such as a 28.20% annual growth in net sales and a 32.48% increase in operating profit, along with high institutional holdings at 69.41%. However, the stock is currently trading at a discount compared to its peers' average historical valuations, which may suggest that investors are cautious due to the recent profit decline.