Why is Emerald Leisures falling/rising?

As of 07-Jul, Emerald Leisures Ltd is experiencing a decline in its stock price, currently at 221.50, reflecting a decrease of 4.5 points or 1.99%. The stock has underperformed its sector by 2.44% today and has been on a downward trend for the last two days, with a total decline of 3.55% during this period. Despite trading above its moving averages over various time frames, the stock's performance over the past year shows a negative return of 2.72%, coinciding with a decline in profits by 11.9%. Additionally, the increase in pledged promoter shares to 24.01% raises concerns about the company's stability, especially given its negative book value and high debt levels, which contribute to a weak long-term fundamental strength.
In the broader market context, Emerald Leisures has shown a positive return of 11.87% over the past month, while the benchmark Sensex has only increased by 1.53% during the same period. However, the year-to-date performance indicates a decline of 3.53% for the stock, contrasting with the Sensex's gain of 6.79%. This divergence highlights the stock's recent struggles despite some short-term gains. The overall market sentiment appears to be cautious, particularly due to the company's high debt-to-equity ratio and flat results reported in March, which may be influencing investor confidence negatively.