Why is Bharat Wire falling/rising?

As of 26-Aug, Bharat Wire Ropes Ltd is experiencing a decline in its stock price, currently at Rs 177.55, which represents a decrease of Rs 4.25 or 2.34%. The stock has underperformed its sector by 0.42% today and has been on a downward trend for the last three days, accumulating a total loss of 6.75% during this period. The stock's performance over the past week shows a decline of 3.03%, and it has fallen 6.40% over the past month. Additionally, the stock has generated a significant negative return of 36.36% over the past year, while its profits have decreased by 22.8%. The company's high debt levels, with a debt-to-equity ratio of 2.39, and weak long-term fundamentals contribute to the negative sentiment surrounding the stock. Furthermore, 51% of promoter shares are pledged, which adds downward pressure in a falling market.
In the broader market context, Bharat Wire Ropes Ltd has underperformed compared to the benchmark index, with the Sensex showing a decline of only 1.05% over the past week and a marginal drop of 0.83% over the past month. The stock's year-to-date performance is particularly concerning, as it has dropped 16.33% while the benchmark has gained 3.39%. The engineering sector, to which Bharat Wire belongs, has also seen a decline of 2.2%, indicating a challenging environment for companies in this space. Overall, the combination of poor financial performance, high debt levels, and negative market sentiment has led to the stock's recent decline.