Why is Sigachi Indust. falling/rising?

As of 30-Jul, Sigachi Industries Ltd is experiencing a decline in its stock price, currently at Rs 38.11, which reflects a decrease of Rs 1.09 or 2.78%. The stock has underperformed its sector by 3.12% today, touching an intraday low of Rs 38. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 45.27% compared to the 5-day average. Over the past year, the stock has generated a return of -42.80%, which is substantially worse than the broader market's negative return of -2.34%. Despite a 29.6% increase in profits, the stock's performance has been hindered by a low EPS of Rs -2.63 and a high percentage of pledged promoter shares, which adds downward pressure in a falling market.
In the broader market context, the stock's short-term performance has been notably poor compared to the benchmark, with a 1-week return of -5.01% against the Sensex's -1.50%. This underperformance is compounded by the company's flat results in the latest quarter and a significant portion of promoter shares being pledged, which can negatively impact investor sentiment. Although the company has a low debt-to-equity ratio and is trading at a discount compared to its peers, these positive factors have not been sufficient to counteract the negative sentiment surrounding the stock, leading to its continued decline.