Why is IRB Infra.Devl. falling/rising?

As of 18-Aug, IRB Infrastructure Developers Ltd is experiencing a decline in its stock price, currently at 44.96, which reflects a decrease of 0.45 or 0.99%. The stock has underperformed its sector by 0.36% today, following a trend reversal after four consecutive days of gains. In terms of returns, the stock has shown a 1.60% increase over the past week, but it has significantly underperformed over the longer term, with a 6.37% decline over the past month and a staggering 28.40% drop over the past year. Despite positive results in the last three quarters, including a 26.86% growth in PAT and a strong debtors turnover ratio, the company faces challenges with weak long-term fundamental strength, indicated by a low Return on Capital Employed (ROCE) of 7.88% and a high Debt to EBITDA ratio of 5.18 times. Additionally, over half of the promoter shares are pledged, which adds downward pressure on the stock price in a falling market.
Broader Market Context: In comparison to the benchmark, the stock's performance has been notably poor. While the Sensex has gained 0.83% over the past week and 4.01% year-to-date, IRB Infrastructure has seen a much steeper decline of 21.43% year-to-date. This stark contrast highlights the stock's underperformance relative to the broader market, which has generated negative returns of only 1.14% over the past year. The combination of weak long-term growth prospects, high debt levels, and significant promoter share pledging contributes to the stock's current downward trajectory, despite some recent positive operational metrics.