Why is SPL Industries falling/rising?

As of 18-Aug, SPL Industries Ltd is experiencing a decline in its stock price, currently at 35.00, which reflects a decrease of -0.46 or -1.3%. The stock has been underperforming significantly, with a consecutive fall over the last three days resulting in a total decline of -9.89%. In the past week, the stock has decreased by -5.41%, and over the last month, it has dropped by -17.67%. Additionally, SPL Industries has consistently underperformed against the benchmark, with a year-to-date decline of -41.58% compared to a +4.01% increase in the Sensex. Despite a low debt-to-equity ratio and rising promoter confidence, with a 6.04% increase in their stake, the company has reported negative financial results, including a -58.53% drop in operating profit and negative results for the last three consecutive quarters.
In the broader market context, the textile sector has shown a positive performance, gaining 2.43%, while SPL Industries has lagged behind, underperforming its sector by -3.67%. The stock's liquidity appears adequate, but the overall sentiment remains negative due to its poor long-term growth prospects, with net sales declining at an annual rate of -6.01% over the past five years. The company's recent financial struggles, including a -64.7% fall in PAT and the lowest recorded cash and cash equivalents, contribute to a perception of risk among investors, further exacerbating the stock's decline in value.