Why is Harish Textile falling/rising?

As of 29-Aug, Harish Textile Engineers Ltd is experiencing a decline in its stock price, currently at 58.90, which reflects a decrease of 0.85 or 1.42%. Today's price summary indicates that the stock has outperformed its sector by 0.97%, although it is trading lower than the 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has seen a slight decline of 0.84%, while it has performed better over the past month with a return of 1.92%. Despite positive financial results reported in June, including a significant increase in profits, the company faces challenges such as high debt levels and weak long-term growth prospects, which contribute to its current price movement.
In the broader market context, the stock's short-term performance has been relatively better compared to the benchmark Sensex, which has fallen by 1.84% over the same week. However, the textile machinery sector as a whole has declined by 2.3%, indicating a challenging environment for the industry. The company's high debt-to-equity ratio and low return on equity suggest underlying weaknesses that may deter investors, despite its attractive valuation compared to peers. Overall, while there are some positive indicators, the combination of high debt and weak long-term fundamentals appears to be influencing the stock's downward trajectory.