Why is Manaksia Coated falling/rising?

As of 29-Oct, Manaksia Coated Metals & Industries Ltd is experiencing a decline in its stock price, currently at Rs 162.45, which reflects a decrease of Rs 6.55 or 3.88%. The stock has been underperforming, having fallen consecutively for the last two days with a total drop of 9.93%. Despite a strong performance over the past month with a 24.34% increase, today's trading has seen the stock touch an intraday low of Rs 159.9. The company has shown healthy long-term growth, with an operating profit growth rate of 31.94% and positive results declared in the last two quarters. However, the high Debt to EBITDA ratio of 3.63 times raises concerns about its ability to service debt, which may be impacting investor sentiment.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has only increased by 0.68% over the past week. While Manaksia Coated has outperformed the benchmark significantly over longer periods, including a remarkable 168.47% return over the past year, the current short-term decline suggests a shift in investor confidence. The rising delivery volume indicates increased investor participation, yet the stock's recent underperformance against its sector by 4.29% may reflect caution among investors, particularly given the low stake held by domestic mutual funds, which could signal a lack of confidence in the stock's current valuation.