Why is ICE Make Refrig. falling/rising?

As of 17-Oct, ICE Make Refrigeration Ltd is experiencing a decline in its stock price, currently at 696.75, which reflects a decrease of 6.9 points or 0.98%. The stock has underperformed its sector today by 1%, and it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has dropped by 4.36%, and it has seen a significant decline of 9.34% over the past month. Despite a strong ability to service debt indicated by a low Debt to EBITDA ratio of 0.76 times and healthy long-term growth with net sales increasing at an annual rate of 32.74%, the company has reported a negative profit after tax of Rs -1.42 crore, a drop of 138.3%. Additionally, the return on capital employed (ROCE) is at a low of 16.74%, and the stock is viewed as expensive with a high enterprise value to capital employed ratio of 5.7, contributing to its recent price decline.
In the broader market context, ICE Make Refrigeration Ltd has significantly underperformed compared to the benchmark, with a one-year return of -17.12% against the BSE500's positive return of 0.54%. This underperformance is further highlighted by the fact that domestic mutual funds hold no stake in the company, suggesting a lack of confidence in its valuation or business prospects. The stock's liquidity remains adequate, with a delivery volume increase of 439.73% against the 5-day average, indicating rising investor participation; however, this has not translated into positive price movement. Overall, the combination of weak financial performance, low investor confidence, and underperformance relative to the market has contributed to the stock's current downward trend.