Why is Mahalaxmi Seam. falling/rising?

As of 30-Jun, Mahalaxmi Seamless Ltd is experiencing a decline in its stock price, currently at 9.12, which represents a decrease of 0.18 or 1.94%. The stock has been underperforming significantly, having fallen for the last seven consecutive days, resulting in a total drop of 12.81% during this period. Additionally, it is trading below all key moving averages, indicating a bearish trend. The stock's performance over the past week shows a decline of 9.34%, while its year-to-date return is down by 33.14%. Contributing to this negative movement is the company's weak financial position, characterized by a negative book value and a high debt-to-EBITDA ratio of 3.43 times, which raises concerns about its ability to service debt. Furthermore, the company reported its lowest quarterly PBDIT at Rs 0.17 crore, reflecting poor operational performance.
In the broader market context, the Sensex has shown resilience with a 2.09% increase over the past week, contrasting sharply with Mahalaxmi Seamless Ltd's decline. This underperformance highlights the stock's inability to keep pace with the market, as it has consistently lagged behind the benchmark indices over various time frames, including a 14.29% drop over the past year compared to a 5.79% gain in the Sensex. The falling investor participation, evidenced by a 39.3% drop in delivery volume, further exacerbates the stock's challenges, indicating a lack of confidence among investors. Overall, the combination of weak financial fundamentals, poor recent performance, and a contrasting strong market backdrop contributes to the stock's downward trajectory.