Why is Bharat Wire falling/rising?

As of 17-Sep, Bharat Wire Ropes Ltd is experiencing a slight decline in its stock price, currently at 171.55, reflecting a decrease of 0.1 (-0.06%). The stock has underperformed its sector today by 0.56% and has seen a trend reversal after two consecutive days of gains. In terms of returns, the stock has shown a 1-week increase of 0.85%, but it has declined by 3.27% over the past month and a significant 19.16% year-to-date. The company's return on capital employed (ROCE) stands at 15.4, indicating an attractive valuation, yet it is trading at a discount compared to its peers. However, the stock's performance has been marred by a 38.34% drop over the past year, alongside a 22.8% fall in profits, and it carries a high debt-to-equity ratio of 2.39, which raises concerns about its long-term fundamental strength.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has gained 1.56% over the past week and 2.60% over the past month. This underperformance is further exacerbated by the fact that 51% of promoter shares are pledged, adding downward pressure in a falling market. The company's weak profitability, as indicated by a return on equity of only 7.65%, and negative results in recent quarters, including a 15.4% decline in profit before tax, contribute to a bearish outlook. Overall, the combination of high debt, poor recent financial performance, and significant promoter share pledging suggests a challenging environment for Bharat Wire Ropes Ltd, leading to its current price decline.