Why is KIC Metaliks falling/rising?

As of 18-Jul, KIC Metaliks Ltd is experiencing a decline in its stock price, currently at Rs 35.00, which reflects a decrease of Rs 2.37 or 6.34%. Today's price summary indicates that the stock opened lower, down by 2.33%, and reached an intraday low of Rs 35, marking a significant underperformance against its sector by 5.81%. The stock has shown a negative trend over various periods, with a year-to-date return of -15.66% and a one-year return of -21.03%. The company's financial health is concerning, as it has reported operating losses and a high Debt to EBITDA ratio of 8.75 times, indicating a low ability to service its debt. Additionally, negative results in the most recent quarter, including a 23.90% drop in net sales and a substantial fall in profit after tax, further contribute to the stock's downward movement.
In the broader market context, KIC Metaliks has underperformed against the benchmark, with a one-week return of -3.87% compared to the Sensex's -0.90%. Over the last three years, the stock has consistently lagged behind the BSE500, highlighting its weak long-term fundamental strength. Despite a recent increase in investor participation, as evidenced by a 730.68% rise in delivery volume, the overall sentiment remains negative due to the company's ongoing operational challenges and significant losses. This combination of factors has led to a bearish outlook for KIC Metaliks, reinforcing its status as a strong sell.