Why is Tainwala Chem. falling/rising?

As of 24-Sep, Tainwala Chemicals & Plastics (India) Ltd is experiencing a decline in its stock price, currently at 214.30, which reflects a decrease of 1.7 or 0.79%. The stock has underperformed its sector by 0.72% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 1.04% 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 trend. Despite reporting positive net sales growth of 170.09% and a significant increase in profit after tax of 255.7% in the latest quarter, the company faces challenges such as operating losses and weak long-term fundamental strength, which contribute to the stock's negative performance.
In the broader market context, Tainwala Chemicals has underperformed compared to the Sensex, with a 1-week return of -1.36% against the benchmark's -1.18% and a 1-month return of -5.59% compared to the Sensex's +0.50%. This suggests that the stock is not only struggling in isolation but is also lagging behind the overall market performance. The company's weak ability to service its debt, reflected in a poor EBIT to Interest ratio of -2.40, along with a low return on equity of 4.5 and a high price-to-book value ratio of 1.3, further complicates its outlook. These factors collectively indicate a challenging environment for Tainwala Chemicals, leading to a decline in investor confidence and subsequent stock price movement.