Why is Sigachi Indust. falling/rising?

As of 31-Jul, Sigachi Industries Ltd's stock price is currently at 37.81, reflecting a decrease of 0.3, or 0.79%. The stock has been experiencing a downward trend, having fallen consecutively for the last two days with a total decline of 3.55%. Over the past week, the stock has underperformed significantly, with a return of -4.90%, compared to the Sensex's decline of only -1.22%. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. While the company has a low debt-to-equity ratio and a fair valuation, it has also seen a substantial drop in its stock price over the past year, with a return of -43.48%, despite a 29.6% increase in profits. The high percentage of pledged promoter shares (45.37%) adds further pressure on the stock, especially in a declining market.
In the broader market context, Sigachi Industries has underperformed relative to the benchmark, with a year-to-date return of -24.38% compared to the Sensex's positive return of 3.90%. This stark contrast highlights the stock's struggles in a generally recovering market. The stock's performance over the last month has also been poor, with a decline of 17.93%, while the benchmark fell only 3.00%. The falling investor participation, as evidenced by a decrease in delivery volume, further suggests a lack of confidence among investors, contributing to the stock's downward trajectory. Overall, the combination of weak performance metrics, high pledged shares, and declining investor interest paints a challenging picture for Sigachi Industries Ltd.