Why is Harish Textile falling/rising?

As of 26-Sep, Harish Textile Engineers Ltd is experiencing a decline in its stock price, currently at Rs. 53.00, reflecting a decrease of Rs. 4.9 or 8.46%. The stock has hit a new 52-week low today and has underperformed its sector by 4.25%. Over the past week, the stock has fallen by 9.97%, and its year-to-date performance shows a significant drop of 36.75%. Despite positive financial results reported in June, including a substantial growth in profit after tax and operating profit margins, the company faces challenges due to high debt levels and weak long-term growth prospects, which have contributed to its recent price decline.
In the broader market context, the stock's performance has been notably worse than the benchmark, with the Sensex declining only 2.66% over the past week. The textile machinery sector has also seen a downturn, falling by 4.23%. The company's high debt-to-equity ratio and below-par long-term performance, alongside a significant drop in investor participation, indicate a lack of confidence among investors, further exacerbating the stock's decline. Overall, while there are some positive indicators in terms of profitability, the prevailing negative factors are overshadowing these results, leading to the stock's current downward trajectory.