Why is Bharat Wire falling/rising?

As of 12-Aug, Bharat Wire Ropes Ltd is experiencing a decline in its stock price, currently at Rs 174.00, reflecting a decrease of Rs 4.4 or 2.47%. The stock has underperformed its sector by 1.82% today and has been on a consecutive downward trend for the last two days, with a total drop of 4.4%. The stock has also touched an intraday low of Rs 173.15. Over the past week, Bharat Wire has seen a return of -3.09%, and its performance over the last month is significantly worse at -21.53%. The company has a high debt-to-equity ratio of 2.39, indicating weak long-term fundamental strength, and its profits have fallen by 22.8% over the past year, contributing to the negative sentiment surrounding the stock.
In the broader market context, Bharat Wire's recent performance contrasts sharply with the benchmark Sensex, which has only declined by 0.59% over the past week. The stock's year-to-date performance shows a decline of 18.00%, while the Sensex has gained 2.68% in the same period. Additionally, the stock has underperformed the market significantly over the last year, with a return of -28.69% compared to the BSE500's -2.11%. The high percentage of pledged promoter shares (51%) further exacerbates the downward pressure on the stock price, particularly in a falling market, leading to a lack of investor confidence and participation.