Why is Eastern Treads falling/rising?

As of 28-Aug, Eastern Treads Ltd is experiencing a slight decline in its stock price, currently at Rs 31.93, reflecting a decrease of 0.02 (-0.06%). The stock has hit a new 52-week low of Rs 29.29 today and has been on a downward trend, losing 6.66% over the last three days. Additionally, the stock has underperformed significantly over various time frames, with a year-to-date decline of 15.95% and a one-year return of -28.58%. Despite some positive quarterly results, including the highest net sales and profit after tax for the recent quarter, the company faces challenges such as a negative book value, weak long-term growth, and high debt levels, which contribute to its poor performance and investor sentiment.
In the broader market context, Eastern Treads' recent performance contrasts sharply with the benchmark Sensex, which has only declined by 2.34% over the past week. The stock's significant underperformance relative to the benchmark over the last year and three years further highlights its struggles. While there has been a notable increase in investor participation, as indicated by a 476.05% rise in delivery volume, the overall sentiment remains cautious due to the company's weak fundamentals and negative operating profits. This combination of factors suggests that the stock's decline is influenced by both its specific challenges and the broader market dynamics.