Why is Bharat Wire falling/rising?

As of 11-Aug, Bharat Wire Ropes Ltd is experiencing a decline in its stock price, currently at Rs 178.40, which reflects a decrease of Rs 3.6 or 1.98%. The stock has underperformed its sector by 1.56% today, reaching an intraday low of Rs 178.1. Over the past week, the stock has seen a slight decline of 0.59%, and its performance over the last month has been significantly worse, with a drop of 19.55%. The stock's year-to-date return stands at -15.93%, and it has underperformed the market over the past year with a return of -26.58%. The company has a high debt-to-equity ratio of 2.39, indicating financial strain, and its profits have decreased by 24.8% over the past year. Additionally, 51% of promoter shares are pledged, which can exert further downward pressure on the stock price in a declining market.
In the broader market context, the Sensex has experienced a modest decline of 0.51% over the past week, while Bharat Wire's performance has been significantly worse. The stock's recent underperformance, coupled with its high debt levels and weak long-term fundamentals, suggests a challenging environment for recovery. Despite a rising investor participation indicated by a 174.47% increase in delivery volume, the overall sentiment remains negative due to the company's financial health and the high percentage of pledged shares. This combination of factors contributes to the stock's continued decline in value.