Why is Sudarshan Chem falling/rising?

As of 12-Nov, Sudarshan Chemical Industries Ltd is experiencing a decline in its stock price, currently at Rs 1,030.35, which reflects a decrease of Rs 22.3 or 2.12%. The stock has underperformed its sector by 1.56% today and has been on a downward trend for the last five days, resulting in a total return of -11.25% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. The company's delivery volume has also decreased by 24.59% compared to the 5-day average, suggesting a reduction in investor participation. While the company has shown healthy long-term growth with a 25.90% annual increase in net sales, its profits have fallen by 27.9%, contributing to the negative sentiment surrounding the stock.
In the broader market context, Sudarshan Chemical's recent performance contrasts sharply with the benchmark Sensex, which has gained 1.21% over the past week and 2.38% over the past month. This underperformance is compounded by negative financial results, including a significant drop in operating profit and a reduction in promoter confidence, as they have decreased their stake by 8.21% in the last quarter. Despite being the largest company in its sector and trading at a discount compared to peers, the combination of declining profits and reduced promoter confidence has led to a bearish outlook for the stock, contributing to its current price decline.