Why is Kolte Patil Dev. falling/rising?

As of 12-Nov, Kolte Patil Developers Ltd is experiencing a decline in its stock price, currently at 408.10, which reflects a decrease of 6.8 points or 1.64%. The stock has underperformed its sector by 1.09% today and has been on a consecutive downward trend for the last three days, resulting in a total decline of 3.18%. It opened with a loss of 3.12% and reached an intraday low of Rs 396.65, indicating significant selling pressure. Over the past week, the stock has fallen by 5.65%, while its performance over the past month shows a decrease of 5.39%. Despite a strong year-to-date return of 14.63%, the recent negative quarterly results, including a 62% drop in net sales and a significant loss in profit after tax, have raised concerns among investors. Additionally, the high Debt to EBITDA ratio of 7.32 times suggests a low ability to service debt, contributing to the stock's downward movement.
In the broader market context, the stock's recent performance contrasts sharply with the Sensex, which has gained 1.21% over the past week and 2.38% over the past month. This underperformance relative to the benchmark indicates a lack of investor confidence in Kolte Patil Developers Ltd, especially given the falling delivery volume, which has decreased by 34.08% against the 5-day average. While there are positive factors such as rising promoter confidence and healthy long-term growth in operating profit, these have not been sufficient to offset the negative sentiment stemming from the company's recent financial results and high debt levels.