Why is Indian CardCloth falling/rising?

As of 22-Sep, Indian Card Clothing Company Ltd is experiencing a decline in its stock price, currently at Rs 269.20, reflecting a decrease of Rs 6.2 or 2.25%. The stock has underperformed today, opening with a loss of 3.05% and reaching an intraday low of Rs 267. It is trading below all its moving averages, indicating a bearish trend. Over the past week, the stock has decreased by 4.57%, and year-to-date, it has fallen by 18.67%. The company's financial health is concerning, with reported operating losses and a weak ability to service its debt, as evidenced by a poor EBIT to Interest ratio of -3.69. Additionally, the company has reported a significant drop in profit after tax, with a 55% decline in the latest quarter, further contributing to investor pessimism.
In the broader market context, the Sensex has shown a positive return of 0.46% over the past week, contrasting sharply with Indian Card Clothing's decline. The textile machinery sector has gained by 2.58%, highlighting that the company's struggles are not reflective of the overall market performance. Furthermore, there has been a notable decrease in investor participation, with delivery volume dropping by 81.62% compared to the five-day average, indicating a lack of confidence among investors. The company's negative EBITDA and low inventory turnover ratio suggest ongoing operational challenges, reinforcing the perception of the stock as a risky investment.