Why is Lagnam Spintex falling/rising?

As of 16-Sep, Lagnam Spintex Ltd's stock price is currently at Rs 82.62, reflecting an increase of Rs 0.69 or 0.84%. Despite this slight uptick, the stock has been underperforming in the longer term, with a one-month decline of 7.81% and a year-to-date drop of 36.67%. Today's performance indicates that the stock is trading lower than its moving averages across various time frames and is close to its 52-week low, just 1.96% away. The company has shown a significant decline in profits, with a 10.5% decrease over the past year, and its recent quarterly results have also been disappointing, with a 38.7% drop in PAT compared to the previous four-quarter average. Additionally, the high debt levels, with a debt-to-equity ratio of 2.62, and 48.16% of promoter shares pledged, contribute to a weak long-term outlook.
In the broader market context, Lagnam Spintex's short-term performance has lagged behind the benchmark, with a 1-week return of only 0.11% compared to the Sensex's 1.49%. This underperformance is indicative of a challenging environment for the stock, particularly given its high debt and weak fundamental strength. While there has been a rise in investor participation, as evidenced by a 56.5% increase in delivery volume, the overall sentiment remains cautious due to the company's flat growth and poor long-term performance relative to the market.