Why is IGC Industries falling/rising?

As of 17-Nov, IGC Industries Ltd is experiencing a decline in its stock price, currently at 2.94, reflecting a decrease of 0.18 or 5.77%. The stock has underperformed significantly, with a performance today that is 6.03% lower than its sector. It has been on a downward trend for the last two days, accumulating a total loss of 6.37% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent weakness. The delivery volume has also dropped sharply, falling by 55.89% against the 5-day average, suggesting a decrease in investor participation. The company is characterized by high debt levels and weak long-term fundamentals, with a debt-to-equity ratio of 4.90 times and a return on equity of only 0.07%, which further contributes to its poor performance.
In the broader market context, IGC Industries has underperformed relative to the Sensex, which has gained 1.69% over the past week while IGC has lost 6.07%. This stark contrast highlights the stock's struggles, particularly given its year-to-date decline of 70.21% compared to the Sensex's increase of 8.72%. The company's flat results and negative EBITDA signal ongoing financial challenges, making it a risky investment. Overall, the combination of high debt, weak profitability, and significant underperformance against market benchmarks paints a concerning picture for IGC Industries, leading to its current decline.