Why is Bharat Wire falling/rising?

As of 24-Sep, Bharat Wire Ropes Ltd is experiencing a decline in its stock price, currently at 165.95, reflecting a decrease of 0.75 or 0.45%. The stock has been underperforming recently, with a consecutive fall over the last six days, resulting in a total drop of 3.32%. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 29.13% compared to the 5-day average. While the company has shown healthy long-term growth with an annual operating profit increase of 74.91%, recent negative financial results, including a 15.4% decline in profit before tax and a 13.8% drop in profit after tax, have contributed to the stock's downward movement. Furthermore, the high percentage of pledged promoter shares adds to the selling pressure in a declining market.
In the broader market context, Bharat Wire's performance has been notably worse than the benchmark, with a 1-week return of -3.26% compared to the Sensex's -1.18%. Over the past month, the stock has declined by 10.73%, while the Sensex has seen a slight increase of 0.50%. Year-to-date, Bharat Wire has fallen by 21.80%, contrasting sharply with the Sensex's gain of 4.58%. This underperformance is compounded by the stock's significant decline of 36.44% over the past year, which is markedly worse than the Sensex's drop of only 3.77%. Overall, the combination of negative financial results, declining investor interest, and high promoter share pledges has led to a challenging environment for Bharat Wire Ropes Ltd, resulting in its current price decline.