Why is Digjam falling/rising?

As of 24-Sep, Digjam Ltd's stock price is currently at Rs 57.00, reflecting a decrease of Rs 2.19, or 3.7%. The stock has underperformed its sector today by 3.27%, touching an intraday low of Rs 57. Despite trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, the stock's performance has been concerning, with a year-to-date decline of 11.01% and a staggering 32.81% drop over the past year. The company is facing significant challenges, including a high debt-to-equity ratio of 10.6 times, which indicates weak long-term fundamental strength. Additionally, the company reported flat results in June 2025, with a profit before tax of Rs -2.29 crore, marking a decline of 140.25%. The stock's negative EBITDA and consistent underperformance against benchmarks over the last three years further contribute to its recent price movement.
In the broader market context, Digjam's short-term return of 0.85% over the past week contrasts with the Sensex's decline of 1.18%, indicating some relative strength in the very short term. However, the stock's long-term performance is troubling, with a 60.50% decline over the past three years compared to a 40.65% increase in the benchmark. This consistent underperformance, coupled with the company's high debt and poor growth metrics, suggests that investor sentiment remains negative, leading to the current price decline.