Why is Jagatjit Inds. falling/rising?

As of 23-Sep, Jagatjit Industries Ltd is experiencing a decline in its stock price, currently at Rs 216.30, which represents a decrease of Rs 8.4 or 3.74%. Today's price summary indicates that the stock underperformed its sector by 3.12%, touching an intraday low of Rs 211, which is a drop of 6.1%. The stock has shown a positive return of 4.49% over the past week and 16.92% over the past month; however, it has a year-to-date decline of 9.87% and a significant one-year drop of 24.50%. The company has been facing challenges, including a high debt-to-equity ratio of 7.5 times, negative results for the last six consecutive quarters, and a negative EBITDA, which collectively contribute to its weak long-term fundamental strength and low profitability.
In the broader market context, while the Sensex has shown a slight decline of 0.34% over the past week, Jagatjit Industries Ltd's recent performance has been notably worse, indicating a lack of investor confidence. The stock's poor performance is further underscored by a significant drop in delivery volume, which fell by 73.78% against the five-day average, suggesting reduced investor participation. Additionally, the low stake held by domestic mutual funds, at only 0.11%, may reflect their lack of comfort with the company's valuation or business prospects. Overall, the combination of high debt, poor profitability, and negative market sentiment has led to the stock's current downward trajectory.