Why is Lagnam Spintex falling/rising?

As of 04-Nov, Lagnam Spintex Ltd is experiencing a decline in its stock price, currently at Rs. 78.74, which reflects a decrease of Rs. 1.7 or 2.11%. The stock has hit a new 52-week low of Rs. 77.15 today and has underperformed its sector by 1.03%. Over the past week, the stock has decreased by 3.13%, and its year-to-date performance shows a significant drop of 39.64%. The company has also seen a reduction in investor participation, with delivery volume falling by 19.91% against the 5-day average. Additionally, the stock is trading below all its moving averages, indicating a bearish trend. Despite having an attractive valuation with a return on capital employed (ROCE) of 8.4 and trading at a discount compared to peers, the stock's profits have decreased by 10.5% over the past year, contributing to its negative performance.
In the broader market context, Lagnam Spintex's recent performance contrasts sharply with the benchmark Sensex, which has gained 8.26% year-to-date. The stock's underperformance is evident as it has generated a return of -27.17% over the last year, while the Sensex has increased by 6.68% during the same period. The company's high debt levels, with a debt-to-equity ratio of 2.62, and the fact that 48.16% of promoter shares are pledged, further exacerbate the downward pressure on the stock price, especially in a falling market. Overall, the combination of weak financial results, high debt, and poor long-term growth prospects has led to a negative sentiment surrounding Lagnam Spintex, resulting in its declining stock price.