Why is Elgi Rubber Co falling/rising?

As of 07-Jul, Elgi Rubber Company Ltd's stock price is flat at Rs 59.00, with no change in percentage terms. The stock has been underperforming recently, having fallen every week for the last eight weeks and every month for the last six weeks, resulting in a total return of -100% during these periods. Despite today's performance showing an intraday high of Rs 63.63, the stock's trading has been erratic, with more volume traded closer to its low price. The company is facing significant challenges, including operating losses and a weak long-term fundamental strength, as indicated by a high Debt to EBITDA ratio and poor growth in net sales and operating profit over the last five years.
In the broader market context, the stock's performance over the past week shows a decline of -2.64%, while the benchmark Sensex has only fallen by -0.22%. This indicates that Elgi Rubber is not only struggling in absolute terms but is also lagging behind the market. The company's negative financial results, including a substantial drop in profit before tax and net profit, further contribute to its weak position. Given these factors, the stock is considered risky and has been classified as a strong sell, reflecting the market's lack of confidence in its recovery prospects.