Why is Harish Textile falling/rising?

As of 24-Jun, Harish Textile Engineers Ltd is experiencing a decline in its stock price, currently at 60.70, which represents a decrease of 5.15 or 7.82%. Today's price summary indicates that the stock has underperformed its sector by 7.14% and opened with a significant loss of 5.47%. It reached an intraday low of Rs 59, reflecting a drop of 10.4%. The stock has been trading below its moving averages across various time frames, and there has been a notable decrease in investor participation, with delivery volume plummeting by 99.71% compared to the five-day average. Despite generating an 18.32% return over the past year, the company's profits have fallen dramatically by 219.6%, indicating underlying financial challenges. Additionally, the company has high debt levels, with a debt-to-equity ratio of 3.66, which contributes to its weak long-term fundamental strength.
In the broader market context, Harish Textile's short-term performance has been notably poor, with a 1-week return of -6.18% compared to a slight gain of 0.58% in the Sensex. Over the past month, the stock has declined by 10.60%, while the benchmark has managed a modest increase of 0.41%. This stark contrast highlights the stock's struggles relative to the market. The company's high debt and declining operating profits further exacerbate its challenges, leading to a perception of it being a strong sell among investors.