Why is Mercury EV-Tech falling/rising?

As of 21-Jul, Mercury EV-Tech Ltd's stock price is currently at Rs 51.85, reflecting a decrease of Rs 0.49 or 0.94%. The stock has been underperforming, having fallen for three consecutive days, with a total decline of 1.44% during this period. It is trading close to its 52-week low, just 1.64% above that mark. Over the past month, the stock has dropped by 10.26%, while year-to-date, it has seen a significant decline of 42.41%. Despite reporting positive results in the last three quarters and impressive growth in net sales and profit, the company's high Debt to EBITDA ratio of 9.32 times and low return on equity of 2.73% indicate financial strain, contributing to investor concerns and the stock's recent downward trend.
In the broader market context, Mercury EV-Tech's performance has lagged behind the benchmark, with a one-year return of -30.64% compared to the Sensex's gain of 1.98%. This underperformance is further highlighted by the stock's negative returns over the past week and month, contrasting with the relatively stable benchmark returns. Additionally, the lack of domestic mutual fund investment, which stands at 0%, suggests a lack of confidence in the stock's valuation and potential, further exacerbating its decline in price.