Why is Bharat Wire falling/rising?

As of 13-Jun, Bharat Wire Ropes Ltd is experiencing a decline in its stock price, currently at Rs 208.10, reflecting a decrease of Rs 5.15 or 2.42%. The stock has underperformed its sector by 1.85% today and has been on a consecutive downward trend for the last two days, with a total drop of 4.45%. It opened the day with a significant loss of 3.99% and reached an intraday low of Rs 201.95, indicating weak investor sentiment. Over the past year, the stock has generated a return of -24.30%, while its profits have decreased by 24.8%. Additionally, the company has a high debt-to-equity ratio of 2.39, which raises concerns about its long-term fundamental strength, and 50.87% of promoter shares are pledged, further contributing to downward pressure on the stock price.
In the broader market context, the stock's performance over the past week shows a decline of 6.74%, while the benchmark Sensex has only fallen by 1.30%. This indicates that Bharat Wire is underperforming relative to the overall market. Despite a positive return of 16.62% over the past month, the stock's year-to-date performance is negative at -1.93%, contrasting with the Sensex's gain of 3.81%. The combination of high debt, falling profits, and increasing pledged shares has created a challenging environment for the stock, leading to its recent price decline.