Why is Lagnam Spintex falling/rising?

As of 18-Sep, Lagnam Spintex Ltd is experiencing a decline in its stock price, currently at 86.49, which reflects a decrease of 2.85 or 3.19%. The stock has underperformed its sector today by 3.39%, despite showing higher performance than its 5-day and 20-day moving averages. However, it remains below the 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has seen a modest increase of 2.44%, but it has a negative return of 1.63% over the past month and a significant decline of 33.70% year-to-date. The company's financials indicate a troubling trend, with a 10.5% drop in profits over the past year and a high debt-to-equity ratio of 2.62, which raises concerns about its long-term stability.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has gained 1.67% over the past week and 2.20% over the past month. This underperformance is compounded by the company's weak long-term fundamentals, including a 38.7% decline in PAT and a 7.5% drop in net sales compared to previous quarters. Additionally, with 48.16% of promoter shares pledged, there is increased vulnerability to downward pressure in a falling market. Overall, the combination of high debt, poor growth prospects, and disappointing recent financial results contribute to the stock's decline, making it a strong sell in the current environment.