Why is Elgi Rubber Co falling/rising?

As of 28-Jul, Elgi Rubber Company Ltd's stock price is currently at 56.84, reflecting a decrease of 1.16, or 2.0%. The stock has been underperforming, with a weekly decline of 100% over the last eight weeks and a monthly decline of 100% over the past six weeks. Despite today's performance showing an outperformance against the sector by 3.37%, the stock has not traded on five days out of the last twenty, indicating erratic trading behavior. The company has reported significant operating losses, with a negative profit after tax of Rs -18.77 crore, and a high debt to EBITDA ratio of 20.49 times, which contributes to its weak long-term fundamental strength. In the broader market context, the stock's one-week return of -0.85% is better than the benchmark Sensex's decline of -1.63%, but the stock has significantly underperformed on a year-to-date basis, with a staggering drop of 58.22% compared to the Sensex's gain of 4.38%. This stark contrast highlights the challenges Elgi Rubber faces, particularly with its low ability to service debt and poor long-term growth metrics. The negative operating profits and the company's weak financials suggest that investor confidence is waning, leading to the stock's continued decline.