Why is Ester Industries falling/rising?

As of 01-Aug, Ester Industries Ltd is currently priced at 112.65, reflecting a decrease of 1.4, or 1.23%. The stock has been on a downward trend, having fallen for the last two days with a total decline of 7.83% during this period. Over the past week, the stock has underperformed significantly, with a return of -7.32% compared to the Sensex's -1.06%. Despite a recent increase in delivery volume by 200.12%, indicating rising investor participation, the stock is trading below its moving averages across various time frames. The company's weak long-term fundamentals, highlighted by a -19.29% CAGR growth in operating profits over the last five years and a high Debt to EBITDA ratio of 6.67 times, contribute to its negative performance. Additionally, the stock's return of -25.12% over the past year, despite a significant profit increase of 119.7%, suggests a disconnect between market perception and financial performance.
In the broader market context, Ester Industries has underperformed the Sensex and other benchmarks, with a year-to-date decline of 26.08% compared to the Sensex's gain of 3.15%. This stark contrast indicates a lack of confidence among investors, as evidenced by the minimal stake held by domestic mutual funds, which stands at only 0.03%. The company's flat results in the latest quarter, with a significant drop in both profit before tax and profit after tax, further exacerbate concerns about its financial health. Overall, the combination of poor short-term performance, weak fundamentals, and low institutional interest paints a challenging picture for Ester Industries, contributing to its declining stock price.