Why is Elgi Rubber Co falling/rising?

As of 23-Sep, Elgi Rubber Company Ltd is experiencing a decline in its stock price, currently at Rs 69.57, reflecting a decrease of -0.51 (-0.73%). The stock has been underperforming, having fallen for the last three consecutive days with a total decline of -2.48%. Over the past eight weeks, it has consistently decreased, resulting in a total return of -100%. Additionally, the stock's performance over the last week shows a decline of -1.26%, while its year-to-date performance is significantly negative at -48.86%. The company faces challenges such as weak long-term fundamental strength, with a low Return on Capital Employed (ROCE) of 0.71%, and a high Debt to EBITDA ratio of 14.67 times, indicating difficulties in servicing debt. Negative operating profits and poor sales growth further contribute to the stock's downward trend.
In the broader market context, the stock has underperformed compared to the benchmark Sensex, which has only declined by -0.28% over the past week. While the market has shown a slight positive return of +1.20% over the last month, Elgi Rubber's stock has instead increased by +22.44% in the same timeframe, indicating a recent recovery phase that is now overshadowed by its longer-term negative performance. The company's struggles are evident as it has not only underperformed the market over the past year but has also seen a significant drop in profits, which have fallen by -1465.9%. This combination of factors suggests a challenging environment for the stock, leading to its current decline.