Why is Kiri Industries falling/rising?

As of 09-Jul, Kiri Industries Ltd is experiencing a decline in its stock price, currently at Rs 552.50, reflecting a decrease of Rs 6.5 or 1.16%. Today's performance indicates that the stock has underperformed its sector by 0.97%, with an intraday high of Rs 573, which shows a potential for recovery that was not sustained. The stock has been trading below its moving averages across various time frames, indicating a bearish trend. Over the past week, the stock has decreased by 1.87%, and year-to-date, it has fallen by 10.69%, despite a strong annual return of 56.07%. However, the company is facing significant challenges, including operating losses and a weak ability to service its debt, which has contributed to negative investor sentiment.
Broader market context shows that while Kiri Industries has underperformed relative to the Sensex, which has gained 0.15% over the past week, the stock's long-term performance remains strong compared to the broader market, with a 56.07% return over the last year. However, the company's financial struggles, including a substantial increase in interest expenses and negative profitability metrics, have raised concerns among investors. Additionally, the high percentage of pledged promoter shares adds to the stock's risk profile, particularly in a declining market. This combination of factors has led to a downward pressure on the stock price, overshadowing its previous strong performance.