Why is Sigachi Indust. falling/rising?

As of 22-Sep, Sigachi Industries Ltd is experiencing a decline in its stock price, currently at Rs 42.58, reflecting a decrease of Rs 1.61 or 3.64%. The stock has underperformed its sector by 2.56% today, touching an intraday low of Rs 42.42, which is a drop of 4.01%. Over the past week, the stock has decreased by 3.01%, while it has shown a significant increase of 35.61% over the last month. However, year-to-date, the stock is down 14.84%, and over the past year, it has fallen by 27.24%. The company's low Debt to Equity ratio of 0.07 times is a positive aspect; however, the recent flat results, including a decline in profit before tax and the lowest earnings per share, contribute to the negative sentiment surrounding the stock. Additionally, the high percentage of pledged promoter shares (45.37%) adds downward pressure in a falling market.
In the broader market context, the Sensex has gained 0.46% over the past week, contrasting with Sigachi's decline, indicating that the stock is not only underperforming its sector but also the overall market. The stock's performance over the last year is particularly concerning, as it has significantly lagged behind the BSE500, which has returned -3.80%. The falling investor participation, with a 55.23% drop in delivery volume compared to the five-day average, further suggests a lack of confidence among investors. Overall, the combination of disappointing financial results, high promoter share pledges, and underperformance relative to both the sector and the market contributes to the stock's current downward trajectory.