Why is Sigachi Indust. falling/rising?

As of 25-Sep, Sigachi Industries Ltd is experiencing a decline in its stock price, currently at Rs 39.28, which represents a decrease of 2.26 (-5.44%). The stock has been underperforming recently, with a consecutive fall over the last four days, resulting in a total decline of 11.11%. Additionally, the stock touched an intraday low of Rs 38.7, indicating significant selling pressure. Over the past week, the stock has dropped by 9.24%, and its performance over the last year shows a substantial decline of 30.02%. Although the company has a low debt-to-equity ratio and has seen a rise in profits, the stock's recent performance has been negatively impacted by flat quarterly results and a high percentage of pledged promoter shares, which can exert downward pressure in a falling market.
In the broader market context, the stock's short-term performance has been notably worse than the benchmark, with the Sensex declining only 2.23% over the same week. This stark contrast highlights the stock's struggles relative to the overall market. Furthermore, the significant drop in delivery volume, which fell by 72.94% against the five-day average, suggests a lack of investor confidence. The stock's long-term performance has also been disappointing, underperforming the BSE500 over various time frames, which adds to the negative sentiment surrounding it. Overall, the combination of recent poor performance, high pledged shares, and declining investor participation contributes to the stock's downward trajectory.