Why is Sigachi Indust. falling/rising?

As of 29-Jul, Sigachi Industries Ltd is currently priced at 39.20, reflecting an increase of 0.47 or 1.21%. The stock has recently shown a trend reversal, gaining after three consecutive days of decline. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally bearish trend. Over the past week, the stock has underperformed the sector by 0.53%. Despite a significant drop of 28.96% over the past month and a staggering 42.00% decline over the past year, the company has seen a 29.6% increase in profits, which may suggest a disconnect between stock performance and underlying financial health. Additionally, the stock is trading at a discount compared to its peers, with a fair valuation indicated by a Price to Book Value of 2.5.
In the broader market context, the stock has underperformed the benchmark Sensex, which has only declined by 1.03% over the past week and 3.24% over the past month. The company’s performance is further complicated by the fact that 45.37% of promoter shares are pledged, which can exert additional downward pressure in a falling market. While the stock has shown some positive signs, such as rising investor participation with a 47.45% increase in delivery volume, the overall sentiment remains cautious due to flat results in the last quarter and a significant decline in year-over-year returns compared to the broader market.