Why is Maral Overseas falling/rising?

As of 16-Sep, Maral Overseas Ltd's stock price is currently at Rs 46.60, reflecting a decrease of Rs 1.9 or 3.92%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 6.59% during this period. It is also trading close to its 52-week low, just 2.77% above Rs 45.31. The stock's performance over the past month shows a significant decline of 23.18%, while it has generated a negative return of 39.50% over the past year. Key negative factors contributing to this decline include high debt levels, with a debt-to-equity ratio of 4.13 times, and poor profitability, as indicated by a negative profit after tax of Rs -12.57 crore in the last quarter. Additionally, 48.03% of promoter shares are pledged, which can exert further downward pressure on the stock price in a declining market.
In the broader market context, Maral Overseas has underperformed the benchmark Sensex, which has gained 1.58% over the past week, while the stock itself has only increased by 1.30% in the same timeframe. This consistent underperformance against the benchmark over the last three years, coupled with a significant decline in investor participation—evidenced by a 78.71% drop in delivery volume—highlights the stock's struggles. The overall market sentiment appears to be cautious, particularly for companies with high debt and weak long-term fundamentals, which further exacerbates the challenges faced by Maral Overseas in maintaining its stock price.