Why is Mercury EV-Tech falling/rising?

As of 14-Jul, Mercury EV-Tech Ltd's stock price is currently at Rs. 51.93, reflecting a decrease of Rs. 1.27 or 2.39%. The stock has recently hit a new 52-week low of Rs. 51 and has underperformed its sector by 1.67%. In terms of performance, the stock has seen a significant decline of 4.05% over the past week and 12.62% over the past month, while it has plummeted 42.33% year-to-date. Despite showing healthy long-term growth with net sales increasing at an annual rate of 135.95% and positive results for the last three consecutive quarters, the company faces challenges such as a high Debt to EBITDA ratio of 9.32 times, indicating low ability to service debt, and a low return on equity of 2.73%, which suggests low profitability per unit of shareholders' funds.
Broader market context indicates that while the BSE500 has generated returns of 0.26% over the past year, Mercury EV-Tech has significantly underperformed with a return of -30.99%. This stark contrast highlights the stock's struggles in the current market environment. Additionally, the stock is trading below all its moving averages, and there has been a notable decline in investor participation, with delivery volume dropping by 66.26% against the 5-day average. The lack of domestic mutual fund investment, which stands at 0%, further suggests a lack of confidence in the stock's current valuation and business prospects, contributing to its downward price movement.