Why is Bharat Wire falling/rising?

As of 23-Jul, Bharat Wire Ropes Ltd is currently priced at 208.15, reflecting a decrease of 1.1, or 0.53%. The stock has been experiencing a downward trend, having fallen consecutively for the last two days, resulting in a total decline of 2.46% during this period. Despite opening with a gain of 4.59% today and reaching an intraday high of Rs 218.85, the overall performance has been disappointing, with a one-week return of -5.11% and a one-month return of -3.75%. The company has a high debt-to-equity ratio and has reported a significant drop in profits, with a year-over-year return of -17.73%, indicating weak long-term fundamental strength. Additionally, 50.87% of promoter shares are pledged, which can exert further downward pressure on the stock price in a declining market.
In the broader market context, Bharat Wire Ropes Ltd has underperformed compared to the Sensex, which has shown a slight increase of 0.11% over the past week. While the stock has outperformed its sector by 0.96% today, its overall returns have lagged significantly behind the market, with a year-to-date performance of -1.91% compared to the Sensex's 5.87%. The falling investor participation, as indicated by a 34.2% drop in delivery volume, further suggests a lack of confidence among investors, contributing to the stock's recent struggles.