Why is Sigachi Indust. falling/rising?

As of 18-Sep, Sigachi Industries Ltd is experiencing a decline in its stock price, currently at Rs 43.28, which reflects a decrease of Rs 1.12 or 2.52%. The stock has underperformed its sector by 3.57% today, hitting an intraday low of Rs 42.52. Over the past week, the stock has shown a positive return of 14.59%, but it has significantly underperformed over the longer term, with a year-to-date return of -13.44% and a one-year return of -22.13%. The company's financial performance has been mixed, with a low Debt to Equity ratio of 0.07 times, but it has also reported a lowest EPS of Rs -2.63 in the latest quarter, indicating challenges in profitability. Additionally, 45.37% of promoter shares are pledged, which can exert downward pressure on the stock price in a falling market.
In the broader market context, while the Sensex has increased by 1.80% over the past week, Sigachi Industries' performance has lagged behind, highlighting its struggles relative to the overall market. The stock's performance has been particularly poor in the long term, underperforming the BSE500 over the last three years, one year, and three months. This underperformance is compounded by a decline in investor participation, with delivery volume falling by 37.82% against the five-day average, suggesting a lack of confidence among investors. Overall, the combination of disappointing financial results, high promoter share pledging, and weak market sentiment contributes to the stock's current downward trajectory.