Why is Bharat Wire falling/rising?

As of 04-Aug, Bharat Wire Ropes Ltd is experiencing a slight decline in its stock price, currently at 178.30, reflecting a decrease of 0.07 (-0.04%). The stock has been underperforming recently, with a consecutive fall over the last four days resulting in a total decline of 7.57%. In terms of returns, the stock has dropped 5.59% over the past week and 16.55% over the past month, significantly underperforming the Sensex, which has gained 0.16% and lost only 2.89% respectively during the same periods. Despite a recent increase in delivery volume by 21.04%, the stock is trading below all its moving averages, indicating a bearish trend. The company's high debt levels, with a debt-to-equity ratio of 2.39, and a return on equity of only 7.65% further contribute to its weak long-term fundamentals, while the pledge of 51% of promoter shares adds additional downward pressure in a falling market.
Broader Market Context: The broader market context shows that while the Sensex has generated a modest gain of 3.69% year-to-date, Bharat Wire Ropes Ltd has seen a substantial decline of 15.98% in the same timeframe. This stark contrast highlights the stock's underperformance relative to the market, as it has also lagged behind in the past year with a drop of 30.17% compared to the BSE500's negative return of only 2.34%. The company's flat results and significant profit decline of 24.8% over the past year further exacerbate investor concerns, leading to a lack of confidence and contributing to the stock's downward trajectory.