Why is IGC Industries falling/rising?

As of 17-Sep, IGC Industries Ltd is experiencing a decline in its stock price, currently at 3.15, reflecting a decrease of 0.03 or 0.94%. The stock has shown a trend reversal, falling after two consecutive days of gains. Despite a slight increase of 1.61% over the past week, the stock has significantly underperformed over the longer term, with a staggering decline of 89.32% over the past year. Key factors contributing to this downward movement include the company's high debt levels, evidenced by a debt-to-equity ratio of 4.90 times, and weak long-term fundamentals, as indicated by stagnant net sales and operating profit growth. Additionally, the stock is trading at risky valuations, with a negative EBITDA and a decrease in institutional investor participation, which has fallen by 1.44% in the previous quarter.
In the broader market context, IGC Industries' short-term performance has been slightly better than the benchmark, with a 1.61% increase compared to the Sensex's 1.56% over the past week. However, this positive short-term trend is overshadowed by the stock's significant underperformance over the past year and three years, where it has consistently lagged behind the BSE500. The overall market sentiment appears to be cautious, particularly for high-debt companies like IGC Industries, which are struggling with profitability and investor confidence.