Why is Emami Paper falling/rising?

As of 11-Jul, Emami Paper Mills Ltd is experiencing a decline in its stock price, currently at Rs 102.19, down by Rs 2.71 or 2.58%. The stock has been underperforming, having lost 6.96% over the last four days, and it touched an intraday low of Rs 100.1. In terms of returns, the stock has shown a negative performance of 5.92% over the past week and a significant decline of 29.03% over the past year, while its profits have fallen by 69.1%. The company has also reported negative results for the last three consecutive quarters, contributing to a high Debt to EBITDA ratio of 3.57 times, indicating a low ability to service debt. Despite a seemingly attractive valuation with a ROCE of 12 and trading at a discount compared to peers, the consistent underperformance against benchmarks and lack of domestic mutual fund investment suggest a lack of confidence in the stock.
In the broader market context, the Sensex has shown a relatively stable performance with a slight decline of 1.12% over the past week and a positive return of 5.58% year-to-date. This indicates that Emami Paper's recent struggles are not merely reflective of market conditions but rather specific issues within the company itself. The stock's performance has been notably worse than the benchmark, highlighting its ongoing challenges and the lack of investor participation, as evidenced by a significant drop in delivery volume. Overall, the combination of poor financial results, high debt levels, and underwhelming growth prospects has led to a decline in investor confidence, contributing to the stock's downward trajectory.