Why is Styrenix Perfor. falling/rising?

As of 17-Nov, Styrenix Performance Materials Ltd is experiencing a decline in its stock price, currently at Rs 2,131.05, which reflects a decrease of 116.5 points or 5.18%. The stock has hit a new 52-week low today and has underperformed its sector by 3.95%. Over the past three days, the stock has consecutively fallen, resulting in a total decline of 9.72%. 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 shown high management efficiency and a strong ability to service debt, it has also reported a significant drop in profits, with a 20.8% decrease in PAT compared to the previous quarter's average, contributing to the negative sentiment around the stock.
In the broader market context, Styrenix has underperformed significantly compared to the benchmark, with a one-year return of -10.01% against the BSE500's positive return of 8.59%. This stark contrast highlights the stock's struggle to attract investor confidence, especially in light of its recent financial results and declining performance metrics. Although there has been an increase in delivery volume, suggesting some investor interest, the overall market sentiment remains negative, compounded by the company's flat results and declining cash reserves.